Form 4: Clean Harbors Executive Chair Alan S. McKim Reports Significant Stock Sales Totaling Over $22 Million

Clean Harbors' Executive Chair and CTO, Alan S. McKim, reported the sale of 100,000 shares of common stock over two days in early June 2025, generating approximately $22.46 million.

Summary

• Alan S. McKim, Executive Chair, CTO, and Director of Clean Harbors, Inc. (CLH), filed a Form 4 with the SEC detailing recent transactions in the company's common stock.
• On June 4, 2025, Mr. McKim sold 41,844 shares of Clean Harbors common stock at a price of $225.4 per share.
• On June 5, 2025, Mr. McKim sold an additional 58,156 shares of Clean Harbors common stock at a price of $223.8 per share.
• The total number of shares sold across these two direct transactions is 100,000.
• The aggregate proceeds from these sales amount to approximately $22,455,134.40.
• Following these transactions, Mr. McKim directly beneficially owns 2,297,896 shares of Clean Harbors common stock.
• Additionally, Mr. McKim indirectly beneficially owns shares through various trusts, including 35,369 shares via the McKim 2007 Trust, 57,415 shares via the McKim 2024 Annuity Trust, and 100,000 shares via the McKim 2025 Annuity Trust.

Sentiment

Score: 4

Explanation: The sale of a significant number of shares by a key executive, especially the Executive Chair and CTO, can be perceived negatively by the market as it might suggest a lack of confidence or a belief that the stock is fully valued. However, Form 4 filings do not provide reasons for sales, which could be for personal financial planning or diversification, making a definitive negative sentiment difficult without further context.

Negatives

• Executive Chair Alan S. McKim sold a total of 100,000 shares of Clean Harbors common stock over two days, which could be interpreted by the market as a lack of confidence or a signal of peak valuation, although the filing itself does not provide a reason for the sale.
• The sales generated approximately $22.46 million, representing a significant divestment by a key insider.

Future Outlook

The document is a Form 4 filing reporting insider transactions and does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This Form 4 filing reports an insider stock sale by a key executive at Clean Harbors, a leading provider of environmental and industrial services. While the filing itself does not provide industry context, significant insider sales can sometimes be observed across industries for various reasons, including personal financial planning, diversification, or in response to perceived market conditions. Without further information, it is difficult to ascertain if this sale is indicative of broader trends within the environmental services sector or specific to Clean Harbors.

Stakeholder Impact

• Shareholders: The sale of a significant number of shares by a key executive could lead to concerns about management's confidence in the company's future prospects, potentially influencing investor sentiment and stock price.
• Employees, Customers, Suppliers, Creditors: The filing does not contain information that directly impacts these stakeholders.

Key Dates

Recommendation

Keywords

Clean Harbors, CLH, SEC Form 4, Insider Trading, Stock Sale, Alan S. McKim, Beneficial Ownership, Executive Chair, CTO