[Form 4] ENVIRI Corp Insider Trading Activity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ENVIRI Corp senior vice president Gary Raymond Lada reported dispositions related to the company’s merger and reorganization transactions completed on June 1, 2026. He disposed of 12,092 shares of common stock back to the issuer, leaving no common shares reported as held afterward.
In addition, 33,850 stock appreciation rights tied to ENVIRI common stock, with a conversion price of $8.20 per share and originally expiring in 2035, were canceled in connection with the transactions. Footnotes state that former ENVIRI stockholders ultimately received one New Enviri share for every three ENVIRI shares plus $15.00 in cash per ENVIRI share, and that Lada will receive replacement stock appreciation rights on New Enviri shares with the same intrinsic value as the canceled awards.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Lada Gary Raymond
Role
SVP and President-Harsco Rail
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Appreciation Rights | 33,850 | $0.00 | -- |
| Disposition | Common Stock | 12,092 | $0.00 | -- |
Holdings After Transaction:
Stock Appreciation Rights — 0 shares (Direct, null);
Common Stock — 0 shares (Direct, null)
Footnotes (1)
- The Issuer is party to (x) that certain Agreement and Plan of Merger, dated as of November 20, 2025 (the "Merger Agreement"), by and among the Issuer, CLEH, Inc. (CLEH), Enviri LLC (Enviri LLC), Veolia Environment S.A. (Buyer) and Liberty Merger Sub Inc. (Merger Sub), and (y) that certain Separation Agreement, dated as of November 20, 2025 (the Separation Agreement), by and among the Company, CLEH, Buyer and Enviri II Corporation (New Enviri). On June 1, 2026, pursuant to the terms of the Merger Agreement and the Separation Agreement, a series of transactions occurred, including: (i) the Issuer merged with and into Enviri LLC, with Enviri LLC being the surviving entity of such merger, and each outstanding share of common stock of the Issuer was exchanged for one share of common stock, par value $1.25 per share, of CLEH (the Holding Company Merger), and (ii) following the Holding Company Merger, CLEH and its subsidiaries, including Enviri LLC and New Enviri, effected a reorganization (the Reorganization), resulting in (x) CLEH holding the Clean Earth segment of the Issuer and all the outstanding shares of common stock, par value $0.00001 per share, of New Enviri (New Enviri Common Stock), (y) New Enviri owning all of the equity interests of Enviri LLC and (z) Enviri LLC holding the Harsco Environmental and Rail segments of the Issuer Also on June 1, 2026, (i) following the Reorganization, CLEH distributed all of the outstanding shares of New Enviri common stock to the stockholders of CLEH (the former stockholders of the Issuer) on a pro rata basis (the Distribution); and (ii) immediately after the Distribution, Merger Sub, a wholly owned subsidiary of Buyer, merged with and into CLEH, with CLEH surviving as an indirect wholly owned subsidiary of Buyer (the Merger). In connection with the Holding Company Merger, Reorganization and Merger (collectively, the Transactions), the reporting person disposed of all of the shares of the Issuer held by the reporting person immediately prior to the effective time of the Holding Company Merger and, ultimately, received (x) in the Distribution, one share of New Enviri common stock in respect of every three shares of the Issuer previously held, and (y) in the Merger, cash consideration of $15.00 per share. Represents the cancellation of all of the stock appreciation rights (SARs) in respect of Issuers common stock held by the reporting period immediately prior to June 1, 2026 in connection with the Transactions. In exchange for the cancellation of the SARs, the reporting person will be granted replacement stock appreciation rights in respect of New Enviri Common Stock with an intrinsic value equal to the intrinsic value of the SARs being cancelled.
Key Figures
Common shares disposed: 12,092 shares
SARs canceled: 33,850 rights
SAR conversion price: $8.20 per share
+3 more
6 metrics
Common shares disposed
12,092 shares
Shares of ENVIRI common stock returned to issuer on June 1, 2026
SARs canceled
33,850 rights
Stock appreciation rights on ENVIRI common stock canceled on June 1, 2026
SAR conversion price
$8.20 per share
Conversion or exercise price of canceled stock appreciation rights
Cash merger consideration
$15.00 per share
Cash paid per ENVIRI share in merger-related transactions
Share distribution ratio
1:3
One New Enviri share distributed for every three ENVIRI shares
SAR original expiration
June 6, 2035
Stated expiration date of canceled stock appreciation rights
Key Terms
Agreement and Plan of Merger, Separation Agreement, Holding Company Merger, Reorganization, +2 more
6 terms
Agreement and Plan of Merger regulatory
"The Issuer is party to (x) that certain Agreement and Plan of Merger, dated as of November 20, 2025..."
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Separation Agreement regulatory
"...and (y) that certain Separation Agreement, dated as of November 20, 2025..."
A separation agreement is a written contract that spells out the financial and legal terms when an employee and a company part ways, such as final pay, severance, continued benefits, confidentiality, and any release of claims. For investors, it matters because these agreements determine immediate costs, potential future liabilities, and whether departing staff are restricted from competing or disclosing information—factors that can affect a company’s cash flow, risk profile, and leadership continuity.
Holding Company Merger financial
"...each outstanding share of common stock of the Issuer was exchanged... (the Holding Company Merger)..."
Reorganization financial
"...CLEH and its subsidiaries... effected a reorganization (the Reorganization), resulting in..."
Stock Appreciation Rights financial
"Represents the cancellation of all of the stock appreciation rights (SARs) in respect of Issuers common stock..."
Stock appreciation rights (SARs) are a form of employee compensation that give the holder the right to receive the increase in a company's stock price over a set baseline, paid in cash or shares, without having to buy the stock. For investors, SARs matter because they can create future cash outflows or share dilution and signal how a company rewards and motivates executives — similar to giving a bonus tied directly to how well the company’s stock performs.
Distribution financial
"CLEH distributed all of the outstanding shares of New Enviri common stock... on a pro rata basis (the Distribution)..."
A distribution is a payment or transfer of value from a company, fund, or trust to its shareholders or unit holders, commonly made in cash, additional shares, or other assets. Investors care because distributions provide income, reflect how much cash a business or fund can return to owners, can influence yield and taxable income, and often affect the share price much like a store handing out a portion of its profits to customers.
