Centrus Energy Corp. filed an 8-K on August 18, 2026, disclosing that its Compensation, Nominating & Governance Committee approved a special one-time grant of performance-based restricted stock units to executive officers and certain senior leaders on August 15, 2026.

Key Highlights

  • Special one-time grant: Performance RSUs were awarded under a newly adopted Supplemental Executive Incentive Plan (the "2026 Plan"), itself operating under the Company's 2014 Equity Incentive Plan.
  • CEO grant value: Amir V. Vexler, President and CEO, received a Performance RSU grant valued at $5,000,000 upon full achievement of performance conditions.
  • Other named executive officers: Patrick S. Brown, John M.A. Donelson, and Todd M. Tinelli each received grants valued at $2,000,000; Neal K. Nagarajan received a grant valued at $1,300,000.
  • Vesting structure for CEO: 100% of Vexler's Performance RSUs vest only upon achievement of enrichment from a first cascade, described as the "Final Milestone."
  • Vesting structure for all others: 30% vests upon completion and receipt of the first cascade at the Piketon, Ohio production facility, and the remaining 70% vests upon achievement of the Final Milestone, with actual related costs required to fall within a set range.
  • Forfeiture on termination: If a recipient's employment terminates for any reason before vesting, the award is forfeited in full.
  • Share count to be set at grant date: The number of Performance RSUs will be determined based on the fair market value of the Company's common stock on the date of grant.

Centrus Links Executive Pay to Cascade Enrichment Milestones at Piketon Facility

According to the filing, the Compensation, Nominating & Governance Committee of Centrus Energy Corp. (NYSE:LEU) adopted the 2026 Plan on August 15, 2026, to "establish a framework for the granting of additional incentive awards to further motivate executives and other senior leaders of the Company to make extraordinary efforts to achieve goals that are important to the Company." The plan was adopted under and subject to the terms of the Company's existing 2014 Equity Incentive Plan, as amended and restated from time to time.

The filing specifies two distinct vesting structures. For CEO Amir V. Vexler, all Performance RSUs vest solely upon the "Final Milestone," defined in the filing as achievement of enrichment from a first cascade. For all other recipients, vesting is split: 30% upon completion and receipt of the first cascade at the Company's production facility in Piketon, Ohio, and the remaining 70% upon the Final Milestone. In both cases, the milestones must be achieved prior to a specified outside date, and, for non-CEO recipients, actual related costs must fall within a set range, according to the filing.

The filing states that the full award agreement terms and the 2026 Plan itself will be filed as exhibits to the Company's Form 10-Q for the fiscal quarter ending September 30, 2026. The 8-K was signed by Todd M. Tinelli, Senior Vice President, Chief Financial Officer, and Treasurer, on August 18, 2026.

What Was Disclosed

Centrus Energy disclosed a special one-time grant of performance-based RSUs to its executive officers and senior leaders, tied to operational milestones at its Piketon, Ohio facility, with grant values ranging from $1,300,000 to $5,000,000 per named executive officer.