SEC Filing Analysis: CLEAN HARBORS INC (CLH)

Executive Summary

• Trading Significance: Low
• Key Takeaway: An officer of the company disposed of a small number of shares to cover tax liabilities associated with the vesting of securities. This is a routine, non-discretionary transaction with no investment signal.
• Market Impact: Neutral. The transaction is immaterial in size and nature.

Company Information

Field	Value
Company	CLEAN HARBORS INC
Ticker Symbol	CLH
CIK	0000822818
Industry	HAZARDOUS WASTE MANAGEMENT

Insider Information

Field	Value
Name	Underwood Rebecca
CIK	0001990612
Title/Position	PRESIDENT & EVP FACILITIES
Relationship	Officer

Transaction Details

Field	Value
Form Type	4
Transaction Date	2025-12-15
Transaction Code	F - Payment of tax liability by withholding securities
Security Type	Common Stock
Shares Involved	51
Price Per Share	$240.71
Total Value	$12,276.21
Shares Owned After	17,284
Ownership Type	Direct

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	$12,276.21
% of Market Cap	<0.001%
Shares Transacted	51
% of Shares Outstanding	<0.001%
Post-Transaction Ownership	17,284 shares (0.032% of outstanding)
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: The transaction value of approximately $12k is negligible for a company with an $11 billion market capitalization.
• Ownership Concentration: The insider's post-transaction ownership of 17,284 shares represents a very small fraction (0.032%) of the total shares outstanding.
• Transaction Significance: The transaction is not significant. It represents an infinitesimal percentage of both market cap and shares outstanding, and its nature as a tax withholding removes any discretionary investment motive.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: The transaction is an automatic, non-discretionary sale to cover tax obligations, as indicated by the 'F' transaction code and the filing's footnote. It does not reflect the insider's sentiment or outlook on the company.

Volume & Sentiment

• Expected Volume Impact: Negligible. The transaction size is too small to impact trading volume.
• Sentiment Indicator: Neutral. This type of filing is common and carries no bullish or bearish signal.

Additional Context

Transaction Notes

• Special Circumstances: The filing footnote explicitly states, "Payment of tax liability by withholding of securities incident to vesting of securities in accordance with Rule 16b3." This confirms the non-discretionary nature of the disposition.