SEC Filing Analysis: CLEAN HARBORS INC (CLH)

Executive Summary

• Trading Significance: Low
• Key Takeaway: An officer disposed of shares to cover tax obligations related to vested stock, a common and non-discretionary action.
• Market Impact: Neutral. The transaction is too small and its nature too routine to impact the stock.

Company Information

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

Insider Information

Field	Value
Name	Geer Charles H. II
CIK	0002079092
Title/Position	EVP, Industrial Services
Relationship	Officer

Transaction Details

Field	Value
Form Type	4
Transaction Date	2025-11-01
Transaction Code	F - Payment of tax liability by withholding securities
Security Type	Common Stock
Shares Involved	294
Price Per Share	$210.51
Total Value	$61,889.94
Shares Owned After	8,842
Ownership Type	Direct

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	$61,889.94
% of Market Cap	0.00055%
Shares Transacted	294
% of Shares Outstanding	0.00055%
Post-Transaction Ownership	8,842 shares (0.016% of outstanding)
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: With a market capitalization of $11.25 billion, this transaction of approximately $62,000 is financially immaterial to the company.
• Ownership Concentration: The insider's post-transaction ownership of 8,842 shares represents a very small fraction (0.016%) of the total shares outstanding.
• Transaction Significance: The transaction represents less than 0.001% of both the market cap and shares outstanding, falling far below any threshold for significance. The 'F' code confirms it is a non-discretionary sale for tax purposes, not a market sale reflecting the insider's sentiment.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: The transaction is a routine tax-related disposition, not an open-market sale. Its value is negligible compared to the company's market cap and daily trading volume.

Volume & Sentiment

• Expected Volume Impact: None. This is a withholding of shares, not an open market transaction that would affect trading volume.
• Sentiment Indicator: Neutral. This type of filing is common and does not carry bullish or bearish signals.

Additional Context

Transaction Notes

• Special Circumstances: The filing's footnote explicitly states this was a "Payment of tax liability by withholding of securities incident to vesting of securities in accordance with Rule 16b3." This is a standard procedure for handling taxes on equity compensation.