Form 4: Clean Harbors EVP Sells Shares for Tax Liability

Clean Harbors EVP Robert W. Harrison disposed of 122 shares of common stock to cover tax liabilities related to vested securities.

Summary

• Robert W. Harrison, Executive Vice President of Environmental, Health, and Safety (EHS) at Clean Harbors Inc. (CLH), reported a transaction.
• On December 1, 2025, 122 shares of Clean Harbors Common Stock were disposed of.
• The disposition was for the payment of tax liability incident to the vesting of securities, in accordance with Rule 16b3.
• The shares were disposed of at a price of $228.54 per share.
• Following this transaction, Mr. Harrison directly beneficially owns 5,801 shares of Common Stock.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged sale.

Sentiment

Score: 5

Explanation: Neutral. This is a routine insider transaction for tax purposes, not indicative of positive or negative company performance or management sentiment towards the stock beyond the mechanics of equity compensation.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-arranged, non-discretionary sale.

Negatives

• The disposition of shares, while routine for tax purposes, slightly reduces the executive's direct beneficial ownership in the company.

Future Outlook

No future outlook or guidance is provided in this Form 4 filing.

Industry Context

This filing reports a routine insider transaction related to executive compensation, which is a common occurrence across all industries and does not provide specific insights into broader industry trends for environmental services.

Comparison to Industry Standards

• The practice of executives selling shares to cover tax liabilities upon equity vesting is a standard and widespread compensation practice across all industries, including environmental services, and is not unique to Clean Harbors Inc. or its peers.
• This type of transaction is a routine part of executive compensation packages and is consistent with corporate governance practices observed in publicly traded companies globally.

Stakeholder Impact

• Shareholders might note a slight reduction in insider holdings, but as it's for tax purposes and pre-arranged, it typically has minimal impact on investor sentiment or company valuation.

Key Dates

Recommendation

This Form 4 reports a routine, non-discretionary sale of shares by an executive to cover tax obligations upon the vesting of equity. Such transactions are common and do not typically signal a change in the company's fundamentals or management's long-term view. Therefore, it provides no new information to alter an existing investment thesis, warranting a 'hold' recommendation.

Keywords

Clean Harbors, CLH, Form 4, Insider Transaction, Stock Sale, Tax Withholding, Equity Compensation, Robert W. Harrison, EVP EHS