Company: CLH
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000822818-25-000011
Chunk: 45

Company: CLEAN HARBORS INC
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 45
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 other shareholders as the Company’s founder and largest individual shareholder. Mr. Diderich also did not receive a performance share grant in 2024 because he joined the Company in May of 2024 which was after the annual grant. Going forward, Mr. Diderich will receive an annual performance share grant at 120% of his annual salary.

On March 7, 2025, the C&HC Committee determined that the Adjusted EBITDA Margin for 2024 met the target level for the 2024 Performance Awards. Please refer to the Reconciliation of Actual Results for Annual Incentive Performance Measures in Appendix B for the 2024 amounts used in determination of incentive compensation achievement. Consequently, 50% of the 2024 Performance Awards were earned and began to vest on March 15, 2025 and will continue to vest annually through March 15, 2029, subject to continued employment through the applicable vesting date. We did not achieve the target level for the Adjusted ROIC metric and, as described above, the remaining shares underlying the 2024 Performance Awards will remain eligible to be earned based on the Company’s Adjusted ROIC performance in 2025.

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Additionally, on March 7, 2025, the C&HC Committee assessed the performance metrics associated with the performance shares granted in 2023 (“2023 Performance Awards”). None of the underlying shares became eligible for early vesting based on 2023 performance, so the goals were assessed solely on 2024 results. The table below sets forth the performance metrics associated with the 2023 Performance Awards which were granted to the NEOs:

| Metric                 |     | Threshold |     | Target |
| Adjusted EBITDA Margin |     | 19.7%     |     | 20.3%  |
| Adjusted ROIC          |     | 13.6%     |     | 14.6%  |

As noted above, none of these metrics were achieved in 2023 and therefore were eligible to be earned based on the Company’s performance in 2024. On March 7, 2025, the C&HC Committee concluded that the 2024 Adjusted EBITDA Margin was higher than the threshold level for the 2023 Performance Awards and therefore 58.3% of the performance shares associated with that metric were earned. Refer to the Reconciliation of Actual Results for Annual Incentive Performance Measures