WASTE MANAGEMENT INC — Director's Dealing 2016

May 4, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WASTE MANAGEMENT INC (WM)
CIK: 0000823768
Period of Report: 2016-05-02

Reporting Person: Morris John J (Sr VP Field Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-02	Common Stock	M	20431.0000	$36.8850	Acquired	62865.0000	Direct
2016-05-02	Common Stock	M	13483.0000	$41.3700	Acquired	76348.0000	Direct
2016-05-02	Common Stock	S	13483.0000	$59.5500	Disposed	62865.0000	Direct
2016-05-02	Common Stock	S	20431.0000	$59.5895	Disposed	42434.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-02	Stock Option (Right to Buy)	$41.3700	M	13483.0000	Disposed	2024-03-07	Common Stock (13483.0000)	Direct
2016-05-02	Stock Option (Right to Buy)	$36.8850	M	20431.0000	Disposed	2023-03-08	Common Stock (20431.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2049.1139	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $59.58 to $59.62. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F2: Stock option granted pursuant to Waste Management, Inc. 2009 Stock Incentive Plan. The stock option vests 25% on the first and second anniversary of the date of grant with the remaining 50% on the third anniversary of the date of grant.