Executive Chair Alan S. McKim Files Intent to Sell $29.3M in Stock Amidst Recent Insider Sales
Summary
Executive Chair Alan S. McKim has filed an intent to sell $29.3 million in company stock, extending a recent trend of significant insider sales while the stock is near its 52-week high.
Key Events
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Executive Chair Files Intent to Sell
Alan S. McKim, Executive Chair and CTO, has filed a Form 144 to sell 100,000 shares of common stock, valued at approximately $29.3 million, through the Alan S. McKim 2007 Trust.
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Continuation of Recent Insider Distribution
This intent to sell follows previous significant insider sales by McKim and related trusts, including a $30.5 million intent filed on February 19th and a $28.1 million open market sale reported on February 23rd.
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Stock Trading Near 52-Week High
The proposed sale occurs as Clean Harbors' stock is trading near its 52-week high, potentially indicating a move by the insider to lock in gains.
Analysis
Alan S. McKim, the Executive Chair and CTO, has filed a Form 144 indicating an intent to sell approximately $29.3 million worth of common stock through a trust. This filing continues a recent pattern of significant insider sales by McKim and related trusts, including a $30.5 million intent to sell on February 19th and a $28.1 million open market sale on February 23rd. The proposed sale, occurring while the stock trades near its 52-week high, suggests a move to monetize holdings. Investors should note the ongoing distribution by a key executive.
At the time of this filing, CLH was trading at $293.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $15.5B. The 52-week trading range was $178.29 to $298.12. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.