Form 4: Clean Harbors EVP Sells Shares for Tax Obligation

Clean Harbors EVP Robert W. Harrison disposed of 16 common shares to cover tax liabilities related to vesting securities.

Summary

• Robert W. Harrison, EVP, EHS of Clean Harbors Inc. (CLH), reported a transaction on December 15, 2025.
• The transaction involved the disposition of 16 shares of common stock at a price of $240.71 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, Mr. Harrison beneficially owns 5,785 shares of Clean Harbors common stock.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 5

Explanation: Neutral. This is a routine insider transaction for tax purposes, not indicative of positive or negative company performance or outlook.

Positives

• The transaction was pre-planned under a Rule 10b5-1(c) plan, indicating a structured and non-discretionary approach to equity management.
• The disposition was solely for tax liability related to the vesting of securities, a common and routine event for executives receiving equity compensation.
• The executive still retains a significant holding of 5,785 shares, indicating continued alignment with shareholder interests.

Negatives

• A small number of shares were sold, which slightly reduces the executive's direct ownership.

Risks

• No new risks are identified in this routine insider transaction filing.

Future Outlook

N/A

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction and does not provide specific insights into broader industry trends or competitive landscape. It reflects standard executive compensation practices involving equity vesting and tax obligations.

Comparison to Industry Standards

• The disposition of shares to cover tax liabilities upon vesting is a standard practice for executives receiving equity compensation across various industries. This transaction aligns with typical corporate governance and compensation structures.

Stakeholder Impact

• Shareholders: Minimal impact as it is a small, routine sale for tax purposes, not a discretionary sale indicating a lack of confidence.
• Employees: No direct impact.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary sale of a small number of shares by an executive to cover tax obligations upon vesting of equity awards. Such transactions are common and do not typically signal changes in company fundamentals or management's confidence. Therefore, it provides no new information to alter an existing investment thesis, warranting a 'hold' recommendation based solely on this filing.

Keywords

Clean Harbors, CLH, Insider Trading, Form 4, Stock Sale, Executive Compensation, Robert W. Harrison, Tax Withholding, Equity Vesting