Form 4: Clean Harbors EVP Forfeits Shares Amid Missed Targets

Clean Harbors EVP/CIO Sharon M. Gabriel reported the forfeiture of 1,401 shares of restricted stock due to unachieved performance targets.

Summary

• Sharon M. Gabriel, Executive Vice President and Chief Information Officer (EVP/CIO) of Clean Harbors Inc. (CLH), reported transactions on March 13, 2026.
• Gabriel disposed of 727 shares of Common Stock at a price of $288.93 per share to cover tax liabilities related to the vesting of securities.
• An additional 1,401 shares of restricted stock were forfeited due to Clean Harbors not achieving specific performance targets under its Long Term Equity Incentive Program.
• Following these transactions, Gabriel beneficially owns 21,065 shares of Common Stock directly.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a moderately negative signal due to the forfeiture of shares linked to unachieved performance targets, suggesting a shortfall in internal corporate goals, though the overall impact of this individual transaction on the company's valuation is likely limited.

Negatives

• 1,401 shares of restricted stock were forfeited because the company did not achieve performance targets under its Long Term Equity Incentive Program, indicating a shortfall in corporate performance metrics.

Future Outlook

The filing does not contain any forward-looking statements or guidance.

Industry Context

StockSavvy.ai notes that executive stock forfeitures tied to performance targets are a common mechanism in long-term incentive plans across various industries, designed to align management interests with shareholder value creation. The specific forfeiture by a Clean Harbors executive suggests that certain internal performance benchmarks were not met, which could be a point of interest for investors monitoring the company's operational efficiency and strategic execution within the environmental and industrial services sector.

Comparison to Industry Standards

• StockSavvy.ai observes that the forfeiture of restricted stock due to unachieved performance targets is a standard practice in executive compensation across industries, including environmental services. While the filing does not provide specific performance targets, such mechanisms are designed to incentivize executives to meet or exceed operational and financial goals, similar to programs at Waste Management (WM) or Republic Services (RSG) where executive compensation is often tied to metrics like EPS growth, revenue targets, or sustainability goals. The specific impact on Clean Harbors' overall performance relative to peers cannot be fully assessed from this individual transaction, but it signals that internal benchmarks were not met.

Stakeholder Impact

• Shareholders: The forfeiture of shares due to missed performance targets could be interpreted as a minor negative signal regarding the company's ability to meet its internal goals, potentially impacting investor confidence slightly.
• Management/Employees: The forfeiture directly impacts the compensation of the EVP/CIO and reinforces the link between executive incentives and company performance.

Key Dates

Recommendation

The filing details an executive's stock transactions, including a forfeiture due to missed performance targets. While the forfeiture is a negative indicator of internal performance, the transaction volume is not significant enough to warrant a change in investment thesis for a company of Clean Harbors' size. Investors should monitor future company reports for broader performance trends rather than reacting solely to this individual Form 4.

Keywords

Clean Harbors, CLH, SEC Form 4, Insider Trading, Stock Forfeiture, Executive Compensation, Performance Targets, Restricted Stock