Form 4: Clean Harbors' Co-CEO Michael Battles Reports Changes in Beneficial Ownership

Clean Harbors' Co-CEO Michael Battles filed a Form 4 detailing changes in his beneficial ownership of the company's stock due to restricted stock awards and tax liability payments.

Summary

• On February 5, 2025, Michael Battles, Co-CEO of Clean Harbors Inc., filed a Form 4 with the SEC.
• The filing reports changes in his beneficial ownership of Clean Harbors common stock.
• Battles acquired 11,059 shares of common stock through a restricted stock award.
• He also acquired 5,325 shares through a performance-based restricted stock award.
• 5,217 shares were disposed of to cover tax liabilities related to the vesting of securities.
• Following these transactions, Battles beneficially owns 88,318 shares of Clean Harbors common stock.
• This includes 15 shares acquired under the Clean Harbors Employee Stock Purchase Plan on December 31, 2024.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisitions of restricted stock suggest confidence, while the tax-related disposal is a routine event.

Positives

• The acquisition of restricted stock and performance-based restricted stock indicates confidence in the company's future performance.

Negatives

• The disposal of shares to cover tax liabilities, while routine, slightly reduces the Co-CEO's holdings.

Risks

• The performance-based restricted stock award is contingent on achieving certain goals during the performance period, which introduces uncertainty.

Future Outlook

The vesting schedules for the restricted stock awards extend to 2029, aligning the Co-CEO's interests with the long-term performance of the company.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates standard compensation practices for executives at Clean Harbors.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock awards and performance-based incentives to align management's interests with shareholder value.
• Companies like Waste Management and Republic Services also utilize similar compensation structures for their executives.
• The vesting schedules and performance metrics are typically designed to incentivize long-term growth and profitability.

Stakeholder Impact

• The transactions have a minor impact on shareholders, reflecting standard executive compensation practices.
• Employees may be indirectly impacted through the Employee Stock Purchase Plan.

Key Dates

Keywords

Form 4, Beneficial Ownership, Clean Harbors, Michael Battles, Restricted Stock, Performance-Based Award, SEC Filing, CLH