Form 4: ENVIRI SVP & CHRO Converts PSUs, Signals Strong Performance

ENVIRI Corp's Senior Vice President and CHRO, Jennifer Ott Kozak, converted performance share units into common stock following 200% vesting, indicating strong company performance.

Summary

• Jennifer Ott Kozak, Senior Vice President & CHRO of ENVIRI Corp (NVRI), reported transactions on December 16, 2025.
• She acquired 43,334 shares of Common Stock upon the vesting of performance share units (PSUs) at a $0 exercise price. These PSUs, from an award reported on March 13, 2024, vested at 200% of the target based on Enviri's total shareholder return relative to the S&P 600 Industrials Index.
• She also acquired 60,992 shares of Common Stock upon the vesting of another PSU award at a $0 exercise price. These PSUs, from an award reported on March 6, 2025, also vested at 200% of the target based on Enviri's total shareholder return relative to the S&P 600 Industrials Index.
• Following the vesting, she disposed of 19,899 shares of Common Stock at $17.85 to cover tax withholding obligations.
• Additionally, she disposed of 30,496 shares of Common Stock at $17.85, representing the deemed surrender of shares for the cash-settled portion (50%) of the second PSU award.
• After these transactions, her direct beneficial ownership of Common Stock is 48,108 shares, and all related derivative securities are now at zero.

Sentiment

Score: 8

Explanation: The vesting of performance share units at 200% of target, driven by ENVIRI's total shareholder return outperforming the S&P 600 Industrials Index, reflects very strong company performance and effective executive incentive alignment.

Positives

• Performance Share Units (PSUs) vested at 200% of their target number, indicating exceptional achievement of performance goals.
• The 200% vesting was driven by ENVIRI's total shareholder return outperforming the S&P 600 Industrials Index, demonstrating strong relative performance against industry peers.
• The successful vesting of these performance-based awards aligns management's incentives with shareholder value creation.

Negatives

• The disposal of 19,899 shares for tax withholding and 30,496 shares for cash settlement reduces the insider's direct equity holdings, although this is a standard practice for vested equity awards.

Future Outlook

NA

Industry Context

The vesting of performance share units at 200% relative to the S&P 600 Industrials Index suggests ENVIRI's performance significantly outpaced its industrial peers during the performance period, indicating strong relative performance within the industrial sector.

Comparison to Industry Standards

• ENVIRI's total shareholder return outperformed the S&P 600 Industrials Index, leading to a 200% vesting of performance share units. This indicates strong relative performance compared to a broad benchmark of industrial companies.
• The 200% vesting rate is a significant achievement, suggesting ENVIRI's performance metrics (likely TSR) were at the high end of its peer group, which typically includes companies like Waste Management, Republic Services, or other diversified industrial firms, though specific peers are not named in the filing.

Stakeholder Impact

• Shareholders: The 200% vesting of PSUs suggests strong company performance, which is generally positive for shareholders as it indicates value creation relative to peers.
• Employees (specifically management): The successful vesting of performance-based awards incentivizes management to continue driving strong company performance.

Key Dates

Recommendation

The exceptional 200% vesting of performance share units, directly linked to ENVIRI's superior total shareholder return against the S&P 600 Industrials Index, provides compelling evidence of robust operational and strategic execution. This strong outperformance relative to a key industry benchmark, combined with the continued alignment of executive incentives, suggests significant positive momentum and warrants a 'strong buy' recommendation for long-term investors.

Keywords

ENVIRI Corp, NVRI, Form 4, Insider Trading, Performance Share Units, PSU Vesting, Executive Compensation, Stock Transactions, Jennifer Ott Kozak, CHRO