Form 4: Enviri Executive Reports Final Equity Disposition

President of Harsco Environmental Christophe Reitemeier reports the final disposition of equity holdings following the completion of the Enviri Corp merger and reorganization.

Summary

• Reporting person Christophe Reitemeier, President of Harsco Environmental, finalized the disposition of all direct holdings in Enviri Corp (NVRI).
• The transactions were executed in connection with the merger of Enviri Corp into a subsidiary of Veolia Environnement S.A.
• On May 28, 2026, 23,684 performance share units were vested and settled in cash.
• On June 1, 2026, all remaining common stock holdings (66,491 shares) were disposed of as part of the merger and reorganization process.
• Stock appreciation rights were cancelled and replaced with rights in the newly formed New Enviri entity.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing documenting the final steps of a pre-announced corporate merger.

Positives

• Successful completion of the merger and reorganization process as outlined in the November 20, 2025, agreements.
• Cash settlement of performance share units provided liquidity to the reporting person.
• Replacement of stock appreciation rights ensures continuity of incentive alignment with the new entity, New Enviri.

Negatives

• Total divestment of equity interest in the legacy Enviri Corp entity by the reporting person.
• Cancellation of existing stock appreciation rights in the legacy entity.

Risks

• Integration risks associated with the complex reorganization involving the separation of the Clean Earth segment from the Harsco Environmental and Rail segments.
• Market risks associated with the transition to the new corporate structure under Veolia Environnement S.A.

Future Outlook

The company has completed its merger and reorganization, resulting in the separation of the Clean Earth segment into New Enviri and the integration of Harsco Environmental and Rail segments under the buyer, Veolia Environnement S.A.

Management Comments

• The reporting person confirmed the disposition of all shares held in the issuer following the effective time of the Holding Company Merger.

Industry Context

StockSavvy.ai notes that this filing marks the formal conclusion of the Enviri Corp acquisition by Veolia, a significant consolidation move in the environmental services and industrial waste management sector.

Comparison to Industry Standards

• The transaction structure follows standard practices for complex corporate carve-outs and mergers involving multi-segment industrial entities.
• The use of cash-settled PSUs and replacement SARs is consistent with executive compensation treatment in large-scale M&A events.

Corporate Governance

Legal Proceedings

• The transactions were governed by the Agreement and Plan of Merger and the Separation Agreement dated November 20, 2025.

Related Party Transactions

• Transactions occurred between the issuer, CLEH, Inc., Enviri LLC, Veolia Environnement S.A., and Liberty Merger Sub Inc. as defined in the merger agreements.

Stakeholder Impact

• Shareholders received cash consideration and shares in the newly formed New Enviri entity.
• Executive compensation plans were settled or replaced to align with the new corporate structure.

Next Steps

• Finalization of the integration of Harsco Environmental and Rail segments into the buyer's operations.
• Ongoing management of New Enviri common stock by former Enviri Corp shareholders.

Key Dates

Keywords

Enviri, NVRI, Merger, Veolia, Form 4, Insider Trading, Reorganization, Harsco Environmental