<SEC-DOCUMENT>0001104659-21-029847.txt : 20210301
<SEC-HEADER>0001104659-21-029847.hdr.sgml : 20210301
<ACCEPTANCE-DATETIME>20210301123206
ACCESSION NUMBER:		0001104659-21-029847
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20210301
DATE AS OF CHANGE:		20210301
EFFECTIVENESS DATE:		20210301

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WASTE MANAGEMENT INC
		CENTRAL INDEX KEY:			0000823768
		STANDARD INDUSTRIAL CLASSIFICATION:	REFUSE SYSTEMS [4953]
		IRS NUMBER:				731309529
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-253683
		FILM NUMBER:		21696263

	BUSINESS ADDRESS:	
		STREET 1:		1001 FANNIN STREET
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002
		BUSINESS PHONE:		7135126200

	MAIL ADDRESS:	
		STREET 1:		1001 FANNIN STREET
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USA WASTE SERVICES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>tm213794d1_s8.htm
<DESCRIPTION>FORM S-8
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and
Exchange Commission on March 1, 2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT<BR>
UNDER THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASTE MANAGEMENT, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of Registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; text-align: center; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>73-1309529</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction of incorporation or <BR>
organization) </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer Identification Number)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>800 Capitol Street, Suite 3000<BR>
Houston, Texas 77002<BR>
(713)&nbsp;512-6200</B><BR>
(Address, including zip code, and telephone number, including area code of Registrant&rsquo;s principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASTE MANAGEMENT RETIREMENT SAVINGS PLAN</B><BR>
(Full titles of the Plans)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Charles C. Boettcher<BR>
Waste Management, Inc.<BR>
800 Capitol Street, Suite 3000<BR>
Houston, Texas 77002<BR>
(713)&nbsp;512-6200</B><BR>
(Name, address, including zip code, and telephone number, including area code, of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, a&nbsp;non-accelerated&nbsp;filer, a smaller reporting company or
an emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller
reporting company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule&nbsp;12b-2&nbsp;of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 17%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large&nbsp;accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 56%"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 22%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 2%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller&nbsp;reporting&nbsp;company</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging&nbsp;Growth&nbsp;Company</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">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&nbsp;7(a)(2)(B) of the Securities Act. &nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 2.5pt double; white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; border-top: Black 2.5pt double; white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 2.5pt double; white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 2.5pt double; border-right: Black 1.5pt solid; white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Proposed maximum</TD><TD STYLE="border-top: Black 2.5pt double; border-right: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Proposed maximum</TD><TD STYLE="border-top: Black 2.5pt double; border-right: Black 1.5pt solid; white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: Black 2.5pt double; white-space: nowrap; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Title of securities</TD><TD STYLE="border-right: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Amount to be</TD><TD STYLE="border-right: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">offering price per</TD><TD STYLE="border-right: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">aggregate offering</TD><TD STYLE="border-right: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Amount of</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">to be registered</TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Registered (1)</TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">share (2)</TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">price (2)</TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">registration fee (2)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 42%">
    Common Stock, par value $0.01 per share</TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">3,500,000</TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">110.81</FONT></TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: right">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">387,835,000</FONT></TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: right">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">42,312.80</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 95%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to Rule 416(c) under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), the Registration Statement covers an indeterminate amount of interests to be offered or sold pursuant to the Waste Management Retirement Savings Plan.</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The maximum offering price per share is
    estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) and Rule 457(h) under the
    Securities Act based on the average of the high and low sales prices of the Common Stock as reported on the New York Stock
    Exchange on February 23, 2021. Of this registration fee, $41,696.95 was previously paid in connection with an accidential
    duplicate filing on July 30, 2020 of Waste Management, Inc.&#39;s Registration Statement on Form S-8 (Registration
    No. 333-240212). Such amount is being offset pursuant to Rule 457(p) under the Securities Act.</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXPLANATORY STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In accordance with General Instruction E
of Form S-8 under the Securities Act, the Registrant has filed this registration statement on Form S-8 to register the issuance
of an additional 3,500,000 shares of Common Stock pursuant to the Waste Management Retirement Savings Plan (the &ldquo;Plan&rdquo;).
The contents of the Registration Statement on <A HREF="https://www.sec.gov/Archives/edgar/data/823768/000095012908004768/h60196sv8.htm" STYLE="-sec-extract: exhibit">Form S-8 (Registration No.&nbsp;333-153363) filed by the Registrant with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) on September&nbsp;8, 2008</A> and the Registration Statement on <A HREF="https://www.sec.gov/Archives/edgar/data/823768/000119312512408286/d415901ds8.htm" STYLE="-sec-extract: exhibit">Form S-8 (Registration No. 333-184156) filed by the Registrant with the Commission on September 28, 2012</A> (as amended by <A HREF="https://www.sec.gov/Archives/edgar/data/823768/000119312516610941/d187561ds8pos.htm" STYLE="-sec-extract: exhibit">post-effective amendment on June 2, 2016</A>) are incorporated herein by reference except to the extent otherwise updated or modified by this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Part II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following documents filed with the Commission
by the Registrant are hereby incorporated by reference into this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="white-space: nowrap; width: 3%">(a) &nbsp;</TD>
<TD STYLE="width: 1%">&nbsp;</TD>
<TD><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/823768/000155837021001348/wm-20201231x10k.htm" STYLE="-sec-extract: exhibit">Annual
Report on Form 10-K for the fiscal year ended December&nbsp;31, 2020 filed on February 22, 2021.</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap">(b)</TD>
<TD>&nbsp;</TD>
<TD><A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/823768/000110465921029723/tm216945d2_8k.htm" STYLE="-sec-extract: exhibit">Current Report on Form 8-K filed on March 1, 2021.</A></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/823768/0000950134-95-001585-index.html" STYLE="-sec-extract: exhibit">The description of the Registrant&rsquo;s Common Stock on Form 8-B filed  on July&nbsp;13, 1995.</A></FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="https://www.sec.gov/Archives/edgar/data/823768/000155837020007594/wm-20191231x11k.htm" STYLE="-sec-extract: exhibit">The
Plan&rsquo;s Annual Report on Form 11-K for the fiscal year ended December 31, 2019 filed on June 18, 2020.</A></FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All documents subsequently filed by the
Registrant and the Plan pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, prior to the
filing of a post-effective amendment which indicates that all of the securities offered hereby have been sold or which deregisters
all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be
a part hereof from the date of filing of such documents. The Registrant is not, however, incorporating, in each case, any documents
or information that the Registrant is deemed to furnish and not file in accordance with Commission rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section&nbsp;145 of the Delaware General
Corporation Law (the &ldquo;DGCL&rdquo;) provides that a corporation may indemnify directors and officers as well as other employees
and individuals against expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement in connection
with specified actions, suits or proceedings, whether civil, criminal, administrative or investigative (other than an action by
or in the right of the corporation&mdash;a &ldquo;derivative action&rdquo;), if they acted in good faith and in a manner they reasonably
believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal actions or proceedings,
had no reasonable cause to believe their conduct was unlawful. A similar standard is applicable in the case of derivative actions,
except that indemnification only extends to expenses (including attorneys&rsquo; fees) actually and reasonably incurred in connection
with the defense or settlement of such action, and the DGCL requires court approval before there can be any indemnification where
the person seeking indemnification has been found liable to the corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">The Registrant&rsquo;s
Certificate of Incorporation and By-laws require that it provide indemnification to the maximum extent permitted from time to time
under DCGL, and upon request shall advance expenses to any person who is or was a party or is threatened to be made a party to
any threatened, pending or completed action, suit, proceeding or claim, whether civil, criminal, administrative or investigative,
by reason of the fact that such person is or was or has agreed to be a director or officer of the Registrant or any of its direct
or indirect subsidiaries or while such a director or officer is or was serving at the request of the Registrant as a director,
officer, partner, trustee, employee or agent of any corporation, partnership, joint venture, trust or other enterprise, including
service with respect to employee benefit plans, against expenses (including attorney's fees and expenses), judgments, fines, penalties
and amounts paid in settlement incurred in connection with the investigation, preparation to defend or defense of such action,
suit, proceeding or claim; provided, however, that the Registrant is not required to indemnify or advance expenses to any person
in connection with any action, suit, proceeding, claim or counterclaim initiated by or on behalf of such person. Such indemnification
is not be exclusive of other indemnification rights arising under any By-laws, agreement, vote of directors or stockholders or
otherwise and shall inure to the benefit of the heirs and legal representatives of such person. Additionally, the Registrant has
direct contractual obligations to provide indemnification to each of the members of its Board of Directors and each of its executive
officers. These agreements provide directors and executive officers with the same indemnification by the Registrant as described
above and assure directors and executive officers that indemnification will continue to be provided despite future changes in the
By-laws of the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">Section&nbsp;102(b)(7)
of the DGCL permits a corporation to provide in its certificate of incorporation that a director of the corporation shall not be
personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except
for liability (i)&nbsp;for any breach of the director's duty of loyalty to the corporation or its stockholders, (ii)&nbsp;for acts
or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii)&nbsp;for payments of
unlawful dividends or unlawful stock repurchases, redemptions or other distributions, or (iv)&nbsp;for any transaction from which
the director derived an improper personal benefit. The Registrant&rsquo;s Certificate of Incorporation provides that no director
will be liable to the Registrant or its stockholders for any breach of fiduciary duty, except as limited under DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">The Registrant&rsquo;s
directors and officers are covered by insurance policies indemnifying against certain liabilities, including certain liabilities
arising under the Securities Act that might be incurred by them in such capacities and against which the Registrant may not indemnify
them.</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;8. Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following exhibits are filed as part
of this Registration Statement:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
<TD STYLE="width: 3%">&nbsp;</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="width: 1%">&nbsp;</TD>
<TD STYLE="width: 92%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/823768/000095012310070947/h74168exv3w1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.1 </FONT></A></TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/823768/000095012310070947/h74168exv3w1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash; </FONT></A></TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/823768/000095012310070947/h74168exv3w1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Third
Restated Certificate of Incorporation of Waste Management, Inc. (incorporated by reference to Exhibit&nbsp;3.1 to the
Registrant&rsquo;s Quarterly Report on Form&nbsp;10-Q for the quarter ended June&nbsp;30, 2010).</FONT></A></TD></TR>
<TR>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/823768/000110465920126928/tm2036284d1_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.2 </FONT></A></TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/823768/000110465920126928/tm2036284d1_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash; </FONT></A></TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/823768/000110465920126928/tm2036284d1_ex3-2.htm" STYLE="-sec-extract: exhibit">Amended and Restated By-laws of Waste Management, Inc. (incorporated by reference to Exhibit&nbsp;3.2 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed November 18, 2020).</A></TD></TR>
<TR>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top"><A HREF="tm213794d1_ex23-1.htm">23.1</A></TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top"><A HREF="tm213794d1_ex23-1.htm">&mdash; </A></TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top"><A HREF="tm213794d1_ex23-1.htm">Consent of Ernst &amp; Young LLP.</A></TD></TR>
<TR>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top"><A HREF="tm213794d1_ex23-2.htm">23.2</A></TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top"><A HREF="tm213794d1_ex23-2.htm">&mdash;</A></TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top"><A HREF="tm213794d1_ex23-2.htm">Consent of Weaver &amp; Tidwell, L.L.P.</A></TD></TR>
<TR>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top"><A HREF="#sp1-001"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24.1 </FONT></A></TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top"><A HREF="#sp1-001"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash; </FONT></A></TD>
<TD STYLE="vertical-align: bottom">&nbsp;</TD>
<TD STYLE="vertical-align: top"><A HREF="#sp1-001"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Powers of Attorney (included on the signature page of this Registration Statement).</FONT></A></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-indent: 0.5in">The Registrant hereby undertakes that it
will submit or has submitted the Plan and any amendment thereto to the Internal Revenue Service (the &ldquo;IRS&rdquo;) in a timely
manner and has made or will make all changes required by the IRS in order to qualify the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The securities being registered hereby for
the Plan are not original issuance securities. Pursuant to Form S-8, Part II, Item 8(a), an opinion of counsel as to the legality
of the shares purchased under the Plan is not required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>The Registrant. </B>Pursuant to the requirements
of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all requirements
for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Houston, State of Texas on the 1st day of March 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
<TD STYLE="vertical-align: top; width: 5%">&nbsp;</TD>
<TD STYLE="width: 45%"><B>WASTE MANAGEMENT, INC.</B> <B>&nbsp;</B> <B>&nbsp;</B></TD></TR>
<TR>
    <TD>&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
<TD>By:</TD>
<TD STYLE="border-bottom: black 1pt solid; padding-left: 0.375in"><I>/s/ James C. Fish, Jr.</I></TD></TR>
<TR>
    <TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">James C. Fish, Jr.</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">President, Chief Executive Officer&nbsp;and Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="sp1-001"></A>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">Each person whose
signature appears below constitutes and appoints James C. Fish Jr., Devina A. Rankin and Charles C. Boettcher, and each of them
severally, his or her true and lawful&nbsp;attorney-in-fact,&nbsp;with the power of substitution, for him or her in any and all
capacities, to sign any amendments (including post-effective amendments) to this registration statement, and to file the same,
with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying
and confirming all that said&nbsp;attorneys-in-fact,&nbsp;or their substitute or substitutes, may do or cause to be done by virtue
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; width: 34%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Signature </B></FONT></TD>
<TD STYLE="padding-bottom: 1pt; text-align: center; width: 2%"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 37%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Title </B></FONT></TD>
<TD STYLE="padding-bottom: 1pt; text-align: center; width: 2%"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 25%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Date </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
James C. Fish Jr.</I></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">President,&nbsp;Chief&nbsp;Executive&nbsp;Officer&nbsp;and&nbsp;Director &nbsp;</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">March 1, 2021</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">James C. Fish, Jr.</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">(Principal Executive Officer)</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
Devina A. Rankin</I> </FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Executive&nbsp;Vice&nbsp;President&nbsp;and Chief Financial Officer</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">March 1, 2021</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap">Devina A. Rankin</TD>
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Principal Financial Officer) </FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><I>/<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">s/
Leslie K. Nagy</FONT></I></TD>
<TD>&nbsp;</TD>
<TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vice&nbsp;President&nbsp;and&nbsp;Chief&nbsp;Accounting&nbsp;Officer </FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">March 1, 2021</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Leslie K. Nagy </FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Principal Accounting Officer)</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
Frank M. Clark, Jr.</I></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">March 1, 2021</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Frank M. Clark, Jr.</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
Andr&eacute;s R. Gluski</I></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">March 1, 2021</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Andr&eacute;s R. Gluski </FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
Victoria M. Holt </I></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">March 1, 2021</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Victoria M. Holt </FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
Kathleen M. Mazzarella </I></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">March 1, 2021</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kathleen M. Mazzarella </FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
William B. Plummer</I></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">March 1, 2021</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">William B. Plummer</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
John C. Pope</I></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">March 1, 2021</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">John C. Pope</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
Thomas H. Weidemeyer</I></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chairman of the Board and Director</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">March 1, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; white-space: nowrap"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Thomas H. Weidemeyer</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>The Plan. </B>Pursuant to the requirements
of the Securities Act of 1933, the Administrative Committee of the Waste Management Employee Benefit Plans has duly caused this
registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Houston, State
of Texas on the 1st day of March, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
<TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
<TD STYLE="white-space: nowrap; width: 50%"><B>WASTE MANAGEMENT RETIREMENT SAVINGS PLAN</B> <B></B>&nbsp;</TD>
</TR>
<TR>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="padding-bottom: 1pt">By: &nbsp;Administrative Committee of the Waste Management Employee Benefit Plans</TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="padding-bottom: 1pt; padding-left: 0.375in">&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD STYLE="border-bottom: black 1pt solid; text-align: left; padding-left: 0.375in"> <I>/s/ Gordon Blasius</I></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gordon Blasius</FONT></TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD>Vice President &ndash; Total Rewards <BR>
Waste Management, Inc.</TD>
</TR>
<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD> Member&mdash;Administrative Committee of the Waste Management Employee Benefit Plans</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>tm213794d1_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: right; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: right; text-indent: 0.5in"><B>Exhibit
23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Consent of Independent Registered Public
Accounting Firm</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="background-color: white">We
consent to the incorporation by reference in the Registration Statement on Form S-8 pertaining to the Waste Management
Retirement Savings Plan of our reports dated February 22, 2021, with respect to the consolidated financial statements of
Waste Management, Inc. and the effectiveness of internal control over financial reporting of Waste Management, Inc. included
in its Annual Report (Form 10-K) for the year ended December 31, 2020, filed with the Securities and Exchange
Commission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.75in; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%">/s/ ERNST&nbsp;&amp; YOUNG LLP</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Houston, Texas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> March 1, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>tm213794d1_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 23.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the incorporation by reference
in the Registration Statement (Form S-8) pertaining to the Waste Management Retirement Savings Plan of our report dated June 18,
2020, with respect to the financial statements and supplemental schedule of the Waste Management Retirement Savings Plan included
in the Annual Report (Form 11-K) for the year ended December 31, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; text-align: left">/s/ WEAVER AND TIDWELL, L.L.P.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Houston, Texas</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">March 1, 2021</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</SEC-DOCUMENT>
