Form 4: Clean Harbors Co-CEO Michael Battles Reports Tax-Related Stock Disposition

Clean Harbors Co-CEO and Director Michael Battles reported the disposition of 1,532 shares of common stock at $229.55 per share on July 1, 2025, to cover tax liabilities related to the vesting of securities.

Summary

• Michael Louis Battles, Co-CEO and Director of Clean Harbors Inc. (CLH), reported a transaction on July 1, 2025.
• The transaction involved the disposition of 1,532 shares of Clean Harbors Common Stock at a price of $229.55 per share.
• This disposition was for the payment of tax liability by withholding of securities incident to the vesting of securities, in accordance with Rule 16b3.
• Following this transaction, Michael Battles beneficially owns 80,911 shares of Clean Harbors Common Stock.
• The reported beneficial ownership includes 14 shares acquired under the Clean Harbors Employee Stock Purchase Plan on June 30, 2025.

Sentiment

Score: 7

Explanation: The transaction itself (tax withholding) is neutral, but it stems from the vesting of securities, which is generally a positive event for the executive as it represents earned compensation. The executive also acquired shares through an Employee Stock Purchase Plan, indicating continued investment.

Positives

• The underlying event for the disposition was the vesting of securities, which typically represents earned compensation or achievement of performance milestones for the executive.
• The executive continues to hold a significant number of shares (80,911) after the transaction, indicating continued alignment with shareholder interests.
• The acquisition of 14 shares through the Employee Stock Purchase Plan on June 30, 2025, indicates ongoing participation in company stock programs.

Negatives

• A disposition of shares, even for tax purposes, reduces the executive's direct ownership stake.

Future Outlook

No forward-looking statements or guidance are provided.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction and does not provide broader industry context or trends. It reflects an individual executive's stock activity rather than a company-wide strategic or financial announcement.

Comparison to Industry Standards

• This document does not provide information for comparison to global benchmarks or specific comparable companies/projects.
• Insider transactions for tax withholding upon vesting are standard practice across industries for executives receiving equity compensation.

Stakeholder Impact

• Shareholders: The disposition of a small number of shares for tax purposes by a Co-CEO is a routine event and is unlikely to have a significant direct impact on existing shareholders. The underlying vesting event is positive for the executive.
• Employees: The mention of the Employee Stock Purchase Plan (ESPP) indicates a benefit program available to employees, which can be positive for employee morale and alignment.
• Management: The transaction reflects the executive's compensation structure and tax obligations related to equity awards.

Key Dates

Recommendation

Keywords

Clean Harbors Inc., CLH, SEC Form 4, Insider Transaction, Stock Disposition, Michael Battles, Co-CEO, Director, Tax Withholding, Vesting of Securities, Employee Stock Purchase Plan