Neuberger Berman Discloses 0 Sole Voting Power in ENVIRI Corp

TL;DR

**Neuberger Berman reported zero sole voting shares in ENVIRI Corp, signaling a passive or divested stake.**

AI Summary

Neuberger Berman Group LLC, a Delaware-based investment firm, filed an SC 13G on February 12, 2024, disclosing its beneficial ownership in ENVIRI Corp (formerly Harsco Corp) as of December 31, 2023. This filing indicates that Neuberger Berman holds 0 shares with sole voting power, suggesting a passive investment or a change in their holdings that reduced their voting power below the reporting threshold. This matters to investors because it signals that a significant institutional investor either divested its voting shares or never held a substantial voting stake, which could influence market perception of ENVIRI Corp's institutional backing.

Why It Matters

This filing shows that Neuberger Berman Group LLC, a major institutional investor, does not hold sole voting power over any shares of ENVIRI Corp, which could impact investor sentiment regarding institutional confidence.

Risk Assessment

Risk Level: low — The filing indicates a passive or non-voting stake, which generally poses low direct risk to the company's operations or control.

Analyst Insight

A smart investor would investigate Neuberger Berman's other holdings in ENVIRI Corp (e.g., shared voting power, non-voting shares) or their overall investment strategy to understand the full context of this '0 sole voting power' disclosure, rather than assuming a complete divestment.

Key Numbers

• 0 — Sole Voting Power Shares (Number of shares ENVIRI Corp beneficially owned by Neuberger Berman Group LLC with sole voting power as of December 31, 2023.)
• 415864107 — CUSIP Number (Unique identification number for ENVIRI Corp's common stock.)

Key Players & Entities

• Neuberger Berman Group LLC (company) — reporting person, investment firm
• ENVIRI Corp (company) — subject company, issuer
• Harsco Corp (company) — former name of ENVIRI Corp
• Delaware (company) — place of organization for Neuberger Berman Group LLC

Forward-Looking Statements

• ENVIRI Corp's stock price may experience minor fluctuations as investors digest the implications of a major institutional investor holding no sole voting power. (ENVIRI Corp) — medium confidence, target: next 1-3 months

FAQ

Filing Documents

• formsc13g-02122024_080257.htm (SC 13G) — 52KB
• 0001415889-24-003346.txt ( ) — 54KB

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Neuberger Berman Group LLC and its affiliates may be deemed to be beneficial owners of securities for purposes of Exchange Act Rule 13d-3 because they or certain affiliated persons have shared power to retain, dispose of or vote the securities of unrelated clients. Neuberger Berman Group LLC or its affiliated persons do not, however, have any economic interest in the securities of those clients. The clients have the sole right to receive and the power to direct the receipt of dividends from or proceeds from the sale of such securities. Other than named in this filing, no one client has an interest of more than 5% of the issuer. With regard to the shares set forth under item 4(c)(ii), Neuberger Berman Group LLC may be deemed to be the beneficial owner for purposes of Rule 13d-3 because certain affiliated persons have shared power to retain, dispose of and vote the securities. In addition to the holdings of individual advisory clients, Neuberger Berman Investment Advisers LLC serves as investment manager of Neuberger Berman Group LLC's various registered mutual funds which hold such shares. The holdings belonging to clients of Neuberger Berman Trust Co N.A., Neuberger Berman Trust Co of Delaware N.A., Neuberger Berman Asia Ltd., Neuberger Berman Canada ULC and Neuberger Berman Investment Advisers LLC are also aggregated to comprise the holdings referenced herein. In addition to the shares set forth under Item 4(c)(ii) for which Neuberger entities also have shared power to dispose of the shares, item 4(c)(iv) also includes shares from individual client accounts over which Neuberger Berman Investment Advisers LLC has shared power to dispose but does not have voting power over these shares. The holdings of Neuberger Berman Trust Co N.A., Neuberger Berman Trust Co of Delaware N.A., Neuberger Berman Asia Ltd., Neuberger Berman Canada ULC and Neuberger Berman Investment Advisers LLC, are also aggre

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. N/A

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. N/A

Certification

Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 12, 2024 Neuberger Berman Group LLC By: /s/ Brad Cetron Name: Brad Cetron Title: Managing Director Date: February 12, 2024 Neuberger Berman Investment Advisers LLC By: /s/ Brad Cetron Name: Brad Cetron Title: Managing Director

View Full Filing

View this SC 13G filing on SEC EDGAR