Form 4: Clean Harbors Executive Acquires Shares Through Restricted Stock Awards
SEC Form 4 Filing
Jeroen Diderich, EVP & President of Sales & Service at Clean Harbors, acquired shares of common stock through restricted stock awards.
Summary
- Jeroen Diderich, an executive at Clean Harbors, filed a Form 4 indicating changes in beneficial ownership.
- On February 1, 2025, Diderich acquired 1,078 shares of common stock through a restricted stock award.
- These shares vest in four equal installments on February 1 of 2026, 2027, 2028, and 2029.
- Diderich also acquired 3,234 shares through a performance-based restricted stock award.
- These performance-based shares will vest 50% on March 15, 2027, and 50% on March 15, 2028, contingent on achieving specific goals between January 1, 2026, and December 31, 2026.
- Following these transactions, Diderich directly owns 15,312 shares of Clean Harbors common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The filing indicates standard executive compensation practices, which can be viewed favorably as aligning management interests with shareholders.
Positives
- The acquisition of shares by an executive can be seen as a positive sign, indicating confidence in the company's future performance.
Future Outlook
The vesting of the performance-based restricted stock award is contingent upon the achievement of certain goals during the performance period from January 1, 2026, through December 31, 2026.
Industry Context
Executive compensation packages often include stock awards to align management's interests with those of shareholders. This filing reflects a standard practice in corporate governance.
Comparison to Industry Standards
- Stock awards are a common component of executive compensation packages in the environmental services industry, similar to companies like Waste Management and Republic Services.
- The vesting schedules and performance-based criteria are typical mechanisms used to incentivize long-term value creation, aligning with industry best practices.
Stakeholder Impact
- Shareholders may view the stock awards as a positive incentive for the executive to drive company performance.
- Employees may see the executive's stock ownership as a sign of commitment to the company's long-term success.
Key Dates
| Date | Description |
|---|---|
| 02/01/2025 | Date of transaction: Acquisition of restricted stock and performance-based restricted stock. |
| 02/01/2026 | First vesting date for 25% of the restricted stock award. |
| 12/31/2026 | End of the performance period for the performance-based restricted stock award. |
| 03/15/2027 | First vesting date for 50% of the performance-based restricted stock award. |
| 02/01/2027 | Second vesting date for 25% of the restricted stock award. |
| 03/15/2028 | Second vesting date for 50% of the performance-based restricted stock award. |
| 02/01/2028 | Third vesting date for 25% of the restricted stock award. |
| 02/01/2029 | Final vesting date for 25% of the restricted stock award. |
| 02/05/2025 | Date of Form 4 filing. |
Keywords
Form 4, beneficial ownership, restricted stock award, performance-based award, Jeroen Diderich, Clean Harbors, CLH, executive compensation
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