Company: CLH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000822818-25-000040
Chunk: 96

Company: CLEAN HARBORS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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5:Restricted StockNumber of SharesWeighted AverageGrant-DateFair ValueBalance at January 1, 2025387,960 $143.69 Granted93,350 229.18 Vested(127,336)128.49 Forfeited(31,015)147.34 Balance at September 30, 2025322,959 $174.04 As of September 30, 2025, there was $40.9 million of total unrecognized compensation cost arising from restricted stock awards. This cost is expected to be recognized over a weighted average period of 2.1 years. The total fair value of restricted stock vested during the three and nine months ended September 30, 2025 was $7.0 million and $29.1 million, respectively. The total fair value of restricted stock vested during the three and nine months ended September 30, 2024 was $16.3 million and $27.2 million, respectively.Performance Stock AwardsPerformance stock awards are subject to performance criteria established by the Compensation and Human Capital Committee of the Company’s board of directors prior to or at the date of grant. The performance stock awards are earned based on achieving certain revenue, Adjusted EBITDA, Adjusted EBITDA Margin and Return on Invested Capital targets set forth in the applicable award agreements. Performance stock awards include continued service conditions through vesting.The following table summarizes information about performance stock awards for the nine months ended September 30, 2025:Performance StockNumber of SharesWeighted AverageGrant-DateFair ValueBalance at January 1, 2025159,196 $102.09 Granted (1)74,124 232.78 Vested(43,492)126.49 Forfeited(28,055)160.39 Balance at September 30, 2025161,773 $181.33 ________________(1)  The granted activity for performance stock awards is recorded based on the target performance level of 100%. The actual number of performance share awards earned for the 2025 performance stock grants could range from 0% to 200% of target depending on the achievement of the pre-established performance goals.As of September 30, 2025, there was $13.5 million of total unrecognized compensation cost arising from performance stock awards achieved or deemed probable of vesting. The total fair value of performance awards vested during the three