Company: CLH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000822818-25-000019
Chunk: 35

Company: CLEAN HARBORS INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 table summarizes information about performance stock awards for the three months ended March 31, 2025:Performance StockNumber of SharesWeighted AverageGrant-DateFair ValueBalance at January 1, 2025159,196 $102.09 Granted (1)73,537 233.00 Vested(34,056)133.64 Forfeited(9,464)141.91 Balance at March 31, 2025189,213 $176.09 ________________(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 March 31, 2025, there was $11.9 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 months ended March 31, 2025 and March 31, 2024 was $6.6 million and $3.7 million, respectively.Employee Stock Purchase PlanThe Clean Harbors Employee Stock Purchase Plan (the “ESPP”) provides a means for eligible employees of the Company to authorize after-tax payroll deductions on a voluntary basis to be used for the periodic purchase of the Company's common stock at a 10% discount to its fair market value. The purchase price paid by the employees will be 90% of the lower of the closing price of the Company's common stock on (i) the first trading day of the offering period or (ii) the last trading day of the offering period. The contribution periods run from January to June and July to December with share issuances under the ESPP occurring on the closest business day on or prior to June 30 and December 31. No shares were issued under the plan during the three months ended March 31, 2025.

(15) COMMITMENTS AND CONTINGENCIES

The Company and its subsidiaries are subject to legal proceedings and claims arising in the ordinary course of business. Actions filed against the Company arise from commercial and employment-related claims including alleged class actions related to sales practices and wage and hour claims. The plaintiffs in these actions may be seeking damages or injunctive relief or both. These actions are in various jurisdictions and stages of proceedings, and some are covered in part by insurance. In