Clean Harbors' Founder and Chief Executive Officer Establishes Rule 10(b)(5)-1 Stock Trading Plan
June 19 2006 - 9:54AM
Business Wire
Clean Harbors, Inc. (NASDAQ: CLHB), the leading provider of
environmental and hazardous waste management services throughout
North America, announced today that Alan S. McKim, the Company's
Founder and Chief Executive Officer, has established a pre-arranged
stock trading plan to sell a portion of his Company stock over time
as part of his individual long-term strategy for asset
diversification and liquidity. The Stock Trading Plan was adopted
in accordance with guidelines specified under Rule 10(b)(5)-1 of
the Securities Exchange Act of 1934 and Clean Harbors' policies
regarding stock transactions. Rule 10(b)(5)-1 allows corporate
officers and directors to adopt written, pre-arranged stock trading
plans when they do not have material, non-public information. Using
these plans, insiders can gradually diversify their investment
portfolios, can spread stock trades out over an extended period of
time to reduce any market impact, and can avoid concerns about
whether they had material, non-public information when they sold
their stock. Mr. McKim has informed the Company of the following
information regarding the terms of his Rule 10(b)(5)-1 Plan: Mr.
McKim may sell up to 600,000 shares of stock through December 31,
2006. Sale transactions under this Plan will be disclosed publicly
through Form 144 and Form 4 filings with the Securities and
Exchange Commission. The shares being sold by Mr. McKim are derived
from stock originally issued to him by the Company in 1980. If Mr.
McKim completes the sale of all of the shares under his Rule
10(b)(5)-1 Plan, he will continue to own in excess of 3 million
shares of Clean Harbors common stock. Safe Harbor Statement Any
statements contained herein that are not historical facts are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, and involve risks and
uncertainties. These forward-looking statements are generally
identifiable by use of the words "believes," "expects," "intends,"
"anticipates," "plans to," "estimates," "projects," or similar
expressions. These forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those reflected in these forward-looking
statements. Readers are cautioned not to place undue reliance on
these forward-looking statements, which reflect management's
opinions only as of the date hereof. The Company undertakes no
obligation to revise or publicly release the results of any
revision to these forward-looking statements. Furthermore, all
financial information in this press release is based on preliminary
data and is subject to the final closing of the Company's books and
records. A variety of factors beyond the control of the Company may
affect the Company's performance, including, but not limited to: --
The Company's ability to close its announced acquisition of Teris
in a timely fashion, if at all, and successfully integrate its
operations and assets into its existing network of services and
disposal facilities; -- The Company's ability to manage the
significant environmental liabilities which it assumed in
connection with the CSD acquisition; -- The availability and costs
of liability insurance and financial assurance required by
governmental entities relating to our facilities; -- The effects of
general economic conditions in the United States, Canada and other
territories and countries where the Company does business; -- The
effect of economic forces and competition in specific marketplaces
where the Company competes; -- The possible impact of new
regulations or laws pertaining to all activities of the Company's
operations; -- The outcome of litigation or threatened litigation
or regulatory actions; -- The effect of commodity pricing on
overall revenues and profitability; -- Possible fluctuations in
quarterly or annual results or adverse impacts on the Company's
results caused by the adoption of new accounting standards or
interpretations or regulatory rules and regulations; -- The effect
of weather conditions or other aspects of the forces of nature on
field or facility operations; -- The effects of industry trends in
the environmental services and waste handling marketplace; and --
The effects of conditions in the financial services industry on the
availability of capital and financing. Any of the above factors and
numerous others not listed nor foreseen may adversely impact the
Company's financial performance. Additional information on the
potential factors that could affect the Company's actual results of
operations is included in its filings with the Securities and
Exchange Commission, which may be viewed on the Investor portal of
the Company's Web Page at www.cleanharbors.com.
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