SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 20, 2026

Waste Management, Inc.

(Exact Name of Registrant as Specified in Charter)

Registrant’s Telephone number, including area code: (713) 512-6200

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 1.01 Entry into a Material Definitive Agreement

On March 20, 2026, Waste Management, Inc. (the “Company”) entered into Amendment No. 2 (the “Amendment”) to its Seventh Amended and Restated Revolving Credit Agreement dated May 8, 2024 (as amended and restated, the “Credit Agreement”) among the Company, Waste Management of Canada Corporation and WM Quebec Inc., as the Borrowers, Waste Management Holdings, Inc., as Guarantor, the banks party thereto from time to time, and Bank of America, N.A., as Administrative Agent. The Amendment modifies the definitions of EBIT and EBITDA in the Credit Agreement to allow for the add back of equity-based compensation and interest accretion as non-cash items for purposes of the leverage ratio financial covenant calculation, as set forth in Section 9 of the Credit Agreement. These changes are intended to enhance comparability by aligning the components of EBIT and EBITDA with how certain industry peers approach the treatment of these non-cash items within their covenant calculations.

The above description of the material terms of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment filed as an exhibit hereto and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Index

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.