Form 4: ENVIRI Corp: Executive Reports Ownership Changes Post-Merger

Gary Raymond Lada, SVP and President-Harsco Rail at ENVIRI Corp, reported significant changes in beneficial ownership following a series of complex merger and reorganization transactions.

Summary

• Gary Raymond Lada, an officer of ENVIRI Corp, has filed a Form 4 detailing changes in his beneficial ownership of company securities.
• These changes are a result of a series of transactions that occurred on June 1, 2026, including a merger agreement and a separation agreement.
• The transactions involved ENVIRI Corp, CLEH, Inc., Enviri LLC, Veolia Environment S.A., and Liberty Merger Sub Inc.
• Key events included a Holding Company Merger where ENVIRI Corp merged with Enviri LLC, and a subsequent Reorganization.
• Following the Reorganization, CLEH distributed shares of New Enviri common stock to former ENVIRI Corp stockholders.
• Finally, a Merger occurred where Merger Sub merged with CLEH, making CLEH an indirect wholly owned subsidiary of Veolia Environment S.A.
• Lada disposed of his prior ENVIRI Corp shares and received cash consideration of $15.00 per share in the final merger.
• He also received one share of New Enviri common stock for every three shares of ENVIRI Corp previously held.
• Stock Appreciation Rights (SARs) held by Lada were cancelled and replaced with equivalent SARs for New Enviri Common Stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it primarily reports on completed transactions and ownership changes resulting from a merger and reorganization, rather than providing new performance data or future guidance.

Positives

• The reporting person received cash consideration of $15.00 per share for his disposed ENVIRI Corp shares.
• The reporting person received replacement stock appreciation rights for New Enviri Common Stock with equivalent intrinsic value.

Negatives

• The reporting person disposed of all previously held shares of ENVIRI Corp common stock.
• The reporting person's stock appreciation rights were cancelled, although replaced with equivalent rights.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding future financial performance. It primarily details past transactions and ownership changes.

Industry Context

StockSavvy.ai notes that this Form 4 filing reflects significant corporate restructuring and change of control events, common in industries undergoing consolidation or strategic divestitures. The detailed transaction structure indicates a complex process involving multiple entities and agreements.

Stakeholder Impact

• Shareholders: Former ENVIRI Corp shareholders received cash and shares in New Enviri, indicating a change in their investment structure and potential value realization.
• Employees: The reorganization and merger may impact employee roles, reporting structures, and benefits across the involved entities.
• Creditors: The change in ownership and corporate structure could affect the financial standing and obligations of the entities involved.

Next Steps

• The reporting person will hold replacement stock appreciation rights in respect of New Enviri Common Stock.

Key Dates

Keywords

Form 4, SEC Filing, Beneficial Ownership, Merger, Reorganization, Stock Appreciation Rights, ENVIRI Corp, NVRI, Gary Raymond Lada, Executive Transactions