Centrus Energy appoints Kevin M. Graney to board
Graney's annual director package includes a $72,000 cash retainer and $145,000 in RSUs, with both amounts prorated from his appointment date.
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Form Type
8-K
Rhea-AI Filing Summary
Centrus Energy Corp. expanded its board from seven directors to eight and appointed Kevin M. Graney effective immediately on November 4, 2026. Graney previously served as president of General Dynamics Electric Boat from 2019 to 2024. His director compensation includes an annual cash retainer of $72,000 and annual restricted stock units valued at $145,000, each prorated based on his appointment date. The RSU value is based on the closing price of Centrus Class A common stock on that date, and the awards vest in the same manner as RSUs granted for non-employee director annual retainers. Centrus and Graney also entered into the company’s standard indemnification agreement.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Board size: 7 directors to 8 directors
Annual cash retainer: $72,000 per year
Annual restricted stock unit value: $145,000 per year
3 metrics
Board size
7 directors to 8 directors
After Kevin M. Graney's appointment
Annual cash retainer
$72,000 per year
Prorated based on the appointment date
Annual restricted stock unit value
$145,000 per year
Prorated based on the appointment date
Key Terms
Restricted Stock Units, indemnification agreement, High-Assay, Low-Enriched Uranium
3 terms
Restricted Stock Units financial
"annual grant of Restricted Stock Units ("RSUs")"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
indemnification agreement regulatory
"entered into the Company’s standard indemnification agreement"
An indemnification agreement is a contract in which one party promises to cover losses, costs, or legal claims that another party might face, acting like a tailored safety net or private insurance policy. For investors, it matters because such agreements shift potential financial risk away from a company or its officers and onto the indemnifier, which can affect a company’s future liabilities, cash flow and how risky the investment appears during deal-making or litigation.
High-Assay, Low-Enriched Uranium technical
"production of High-Assay, Low-Enriched Uranium"
High-assay, low-enriched uranium (HALEU) is uranium fuel with a higher concentration of the fissile isotope U-235 than conventional reactor fuel but below weapons-grade levels; think of it as a higher-octane version of nuclear fuel. It matters to investors because HALEU is needed for next-generation reactors and certain research or medical applications, creating demand, supply-chain and regulatory risks, and potential long-term revenue opportunities for producers and service providers.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is Kevin Graney's director compensation at LEU?
Kevin M. Graney's annual director compensation is a $72,000 cash retainer and restricted stock units valued at $145,000 per year, both prorated based on his appointment date. The RSU value is based on Centrus's Class A common stock closing price on that date, and the awards vest in the same manner as RSUs granted for non-employee director annual retainers.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
_________________
Date of Report (Date of earliest event reported): November 4, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (301 ) 564-3200
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On November 4, 2026, the Board of Directors (the “Board”) of Centrus Energy Corp. (the “Company”) increased its size from seven directors to eight directors and appointed Kevin M. Graney to the Board effective immediately. Mr. Graney served as the president of General Dynamics Electric Board Corporation from 2019 to 2024. Prior to that, Mr. Graney served as a general manager and then president of General Dynamics National Steel and Shipbuilding Company ("NASSCO") from 2013 to 2019 after beginning his tenure with NASSCO in 2006 as Director of Quality Assurance. Mr. Graney joined General Dynamics Electric Boat in 1995 as a Senior Engineer after spending three years at Bechtel Power Corporation. Earlier, he was an Officer in the U.S. Navy.
As a Board member, Mr. Graney, consistent with the Company’s existing practices with respect to director compensation, will receive (i) an annual cash retainer in an amount equal to $72,000, pro-rated based on his appointment date, and (ii) an annual grant of Restricted Stock Units ("RSUs") with a value equal to $145,000 per year, pro-rated based on the appointment date (based on the closing price of the Company’s Class A common stock on the appointment date), such RSUs to vest in the same manner as RSUs granted for non-employee director annual retainers and subject to the terms of the Centrus Energy Corp. Amended and Restated 2014 Equity Incentive Plan, as amended, and the Company’s standard form of award agreement for the grant of RSUs for director annual retainers to non-employee directors.
There are no arrangements between Mr. Graney and any other person pursuant to which he was elected to serve as a director. Except as disclosed below, there are no related party transactions between the Company and Mr. Graney that would require disclosure under Item 404(a) of Regulation S-K. In connection with Mr. Graney’s appointment as a member of the Board, the Company and Mr. Graney entered into the Company’s standard indemnification agreement. The form of indemnification agreement was filed as Exhibit 10.77 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, which was filed with the Securities and Exchange Commission on March 16, 2015. The indemnification agreement provides for broad based indemnification in favor of the director or officer party thereto as authorized or permitted by law and as otherwise set forth in the agreement. A copy of the related press release announcing Mr. Graney’s appointment is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| Exhibit No. | Description | ||||
| 99.1 | Press Release dated November 10, 2026 | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL Document) | ||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Centrus Energy Corp. | |||||||||||
| Date: | November 10, 2026 | By: | /s/ Todd M. Tinelli | ||||||||
| Todd M. Tinelli | |||||||||||
| Senior Vice President, Chief Financial Officer, and Treasurer | |||||||||||
Centrus Energy Appoints Kevin Graney to Board of Directors November 10, 2026 Brings Nearly Three Decades of Experience in Nuclear Technology, Advanced Manufacturing and National Security Adds Another Seasoned Leader to Centrus' Board BETHESDA, Md., Nov. 10, 2026 /PRNewswire/ -- Centrus Energy (NYSE: LEU), a trusted supplier of nuclear fuel and services, today announced the appointment of Kevin Graney to its Board of Directors (the "Board"). "Mr. Graney has a proven track record of leading complex industrial operations and overseeing large-scale manufacturing programs, including nuclear shipbuilding," said Mikel Williams, Chairman of the Board. "His experience guiding production capacity expansions is enormously valuable as Centrus continues to build out its centrifuge manufacturing program following our historic first centrifuge announcement. We are honored to welcome Kevin to the Board and look forward to benefiting from his leadership and insights." "Throughout my career, I've seen firsthand the importance of maintaining the industrial capabilities that are critical to our nation's security," said Graney. "Centrus is playing an important role in strengthening America's domestic nuclear fuel supply chain at a pivotal time for the industry. I am excited to join the Board and work alongside the management team to expand U.S. uranium enrichment capacity and help meet our nation's growing energy and national security needs." About Kevin Graney Kevin Graney spent nearly 30 years at General Dynamics, serving in a variety of senior leadership roles. Most recently, he was President, Electric Boat from 2019 until his retirement in 2024. Under his leadership, he oversaw the expansion of the company's operations to support construction of the U.S. Navy's Columbia-class ballistic missile submarines and Virginia-class attack submarines. Prior to this, Mr. Graney served as President, National Steel and Shipbuilding Company (NASSCO) from 2017 to 2019, following more than a decade in engineering, program management and operational leadership roles. Mr. Graney began his career as a US Naval Officer, serving aboard submarines and as an instructor at the Nuclear Power Training Unit in Ballston Spa, New York. After leaving the Navy in 1992, he joined Bechtel Power Corporation, where he held engineering and roles supporting commercial nuclear power plants. He earned a Bachelor of Science degree in Marine Engineering with a concentration in Nuclear Engineering from the State University of New York Maritime College and was recognized as Distinguished Alumnus of the Year in 2023. In 2021, Mr. Graney received the Admiral Jerry Land Medal from the Society of Naval Architects and Marine Engineers (SNAME) for outstanding accomplishments in the marine field. About Centrus Energy Centrus Energy is a trusted American supplier of nuclear fuel and services for the nuclear power industry, helping meet the
growing need for clean, affordable, carbon-free energy. Since 1998, the Company has provided its utility customers with more than 1,850 reactor years of fuel, which is equivalent to more than 7 billion tons of coal. With world-class technical and engineering capabilities, Centrus is pioneering production of High-Assay, Low-Enriched Uranium and is leading the effort to restore America's uranium enrichment capabilities at scale so that we can meet our clean energy, energy security, and national security needs. Find out more at www.centrusenergy.com or follow us on LinkedIn and X. Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", "will", "should", "could", "would" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions with respect to future events and operational, economic and financial performance. For Centrus Energy Corp., particular factors that involve uncertainty and could cause our actual future results to differ materially from those expressed in our forward-looking statements and which are, and may be, exacerbated by any worsening of the global business and economic environment include but are not limited to the following: the war in Ukraine and other geopolitical conflicts; our government contracts, including related to changes to the U.S. government's appropriated funding levels for HALEU and the government's inability to satisfy its obligations, and our lease to our facility in Piketon, Ohio; whether or when government demand for HALEU or LEU for government or commercial uses will materialize and at what level; the impact and potential extended duration of a supply/demand imbalance in the market for LEU; significant competition from major LEU producers, including foreign competitors, who may be less cost sensitive than we are; limitations on our ability to compete in foreign markets; pricing trends and demand in the uranium and enrichment markets, especially in light of the potential of limited supply and our dependence on others for deliveries of LEU; and our ability to successfully implement our planned expansion projects in Piketon, Ohio and Oak Ridge, Tennessee. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. Readers are urged to carefully review and consider the various disclosures made in this news release and in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2025, under Part II, Item 1A – "Risk Factors" in our Quarterly report on Form 10-Q for the quarter ended March 31, 2026, under Part II, Item 1A – "Risk Factors" in our Quarterly report on Form 10-Q for the quarter ended June 30, 2026, and our filings with the SEC that attempt to advise interested parties of the risks and factors that may affect our business. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law. Contacts Media: Dan Leistikow, Vice President, Corporate Communications LeistikowD@CentrusEnergy.com Investors: Neal Nagarajan, Senior Vice President and Head of Investor Relations NagarajanNK@centrusenergy.com View original content to download multimedia:https://www.prnewswire.com/news-releases/centrus-energy-appoints-kevin-graney- to-board-of-directors-302935615.html SOURCE Centrus Energy Corp.