Centrus Energy 8-K Filings

Centrus Energy Corp. (LEU) adopted a Supplemental Executive Incentive Plan for 2026 and approved a special one-time grant of performance based restricted stock units (Performance RSUs) for executive officers and certain senior leaders. The awards vest only if specific performance milestones at the company’s Piketon, Ohio production facility are achieved before an outside date and related costs remain within a defined range.

For CEO Amir V. Vexler, 100% of the Performance RSUs vest upon achievement of enrichment from a first cascade, defined as the Final Milestone. For other recipients, 30% vest upon completion and receipt of the first cascade at Piketon and 70% vest upon achievement of the Final Milestone. If employment ends before vesting, the awards are forfeited. Grant sizes for named executive officers are based on the fair market value of Centrus common stock on the grant date, with target grant values up to $5,000,000 for the CEO and between $1,300,000 and $2,000,000 for other named executives.

Centrus Energy Corp. signed a definitive contract with X-energy, LLC to provide enrichment services for low-enriched uranium (LEU) and high-assay, low-enriched uranium (HALEU) to power X-energy’s initial Xe-100 small modular reactors and TRISO-X fuel deployments. Deliveries are scheduled to begin in 2030, with LEU and HALEU expected to come from Centrus’ American Centrifuge Plant in Pike County, Ohio.

Under the contract, X-energy will make prepayments to support Centrus’ domestic commercial enrichment capacity program. The agreement adds to Centrus’ $3 billion contingent LEU and HALEU backlog, of which $2.4 billion is definitized, and aligns with its recent $900 million HALEU enrichment award from the U.S. Department of Energy, targeting the constrained global enriched uranium market and strengthening the U.S. nuclear fuel supply chain.

Centrus Energy reported second quarter 2026 revenue of $176.1 million, up from $154.5 million a year earlier, driven by 22% growth in its Low-Enriched Uranium (LEU) segment to $153.4 million, while Technical Solutions revenue fell 21% to $22.7 million. Gross profit declined to $49.9 million from $53.9 million as the Technical Solutions segment moved to a gross loss of $1.7 million.

GAAP net income decreased 42% to $16.8 million (diluted EPS $0.77) from $28.9 million, mainly because of higher selling, general and administrative expenses, including a $17.2 million increase in stock-based compensation, higher advanced technology costs, and lower gross profit, partly offset by higher investment income and lower taxes. Non-GAAP adjusted net income rose to $38.7 million, with adjusted diluted EPS of $1.77.

Strategically, Centrus signed a $900 million HALEU enrichment award with the U.S. Department of Energy, grew total backlog to $4.5 billion (including $3.7 billion in LEU and $0.8 billion in Technical Solutions), and issued 2026 guidance for revenue of $450–$500 million and total capital deployment of $350–$500 million. The company highlighted DOE budget uncertainty affecting about $0.8 billion of Technical Solutions backlog and plans to expand enrichment capacity and hire net new staff in Ohio and Tennessee.

Centrus Energy Corp. signed a major U.S. Department of Energy contract worth $900 million to expand High‑Assay, Low‑Enriched Uranium (HALEU) enrichment capacity at its Piketon, Ohio facility. The firm fixed‑price contract pays incrementally for performance milestones and requires deployment of new enrichment capacity and delivery of one metric ton of HALEU UF6 enriched to 19.75% 235U by March 2032. The contract includes two DOE options for five metric tons each at $17 million per MTU, bringing total potential enrichment contract value to about $1.07 billion. Centrus has also completed more than 1,900 kilograms of HALEU UF6 under its prior demonstration contract and signed a three‑month, $15 million extension for HALEU storage as it transitions from demonstration work to commercial operations and a broader multi‑billion‑dollar enrichment expansion.

Centrus Energy Corp. extended its Section 382 Rights Agreement to protect valuable tax assets tied to net operating loss carryforwards. The seventh amendment moves the plan’s final expiration from June 30, 2026 to June 30, 2029 and raises the purchase price for each one one-thousandth of a Series A preferred share from $160.38 to $1,143.95, reflecting the higher Class A common stock price. The company states the plan was not adopted in response to any takeover effort and is intended to help preserve stockholder value from tax benefits.

The board appointed Yanhong Dai as principal accounting officer effective June 18, 2026, with a $250,000 base salary and a 40% target bonus opportunity. At the 2026 annual meeting, six directors were re-elected, executive compensation received advisory approval, an officer exculpation charter amendment was supported, stockholders approved the Section 382 Rights Agreement as amended, and Deloitte & Touche LLP was ratified as independent auditor for 2026.

Centrus Energy Corp. reported that it has signed a non-binding letter of intent with Oklo Inc. for Centrus to supply high-assay, low-enriched uranium (HALEU) to Oklo. If a definitive agreement is reached, HALEU would be produced at Centrus’ Piketon, Ohio facility with deliveries beginning in 2029.

The fuel is expected to support Oklo’s planned 1.2 gigawatt power campus in southern Ohio, covering up to five Aurora powerhouses for multiple years and potentially including prepayments from Oklo. Centrus highlights that this HALEU production builds on its existing enrichment capabilities and a previously announced $900 million HALEU task order from the U.S. Department of Energy.

The development is described as part of a broader advanced nuclear energy hub in southern Ohio, combining domestic fuel supply, Oklo’s planned reactors, customer demand, and engineering support from Kiewit Nuclear Solutions. The companies also note expected job creation from Oklo’s planned Aurora campus and Centrus’ expansion activities in Ohio.

Centrus Energy Corp. reported mixed first quarter 2026 results while raising its full-year outlook. Q1 revenue was $76.7 million, up from $73.1 million a year earlier, driven by strong growth in Technical Solutions revenue to $32.1 million from $21.8 million.

Net income fell to $10.0 million from $27.2 million, mainly due to higher advanced technology and expansion costs and the absence of prior-year debt extinguishment gains. Non-GAAP adjusted net income was $23.5 million versus $28.6 million. The company reported total backlog of $3.9 billion and increased its 2026 revenue guidance to a range of $450 million to $500 million, alongside planned capital deployment of $350 million to $500 million for centrifuge manufacturing expansion.

Centrus Energy Corp. has selected Geiger Brothers, Inc. as primary construction contractor for its multi‑billion‑dollar expansion of uranium enrichment capacity in Piketon, Ohio. A wholly owned subsidiary, American Centrifuge Operating, LLC, signed a Construction Contract that caps aggregate payments at $900 million through January 30, 2031.

Geiger Brothers will refurbish existing facilities, install equipment, and build new infrastructure under a time‑and‑materials structure with agreed labor and markup rates, supplemented by future task releases. Fluor Corporation continues as Engineering, Procurement and Construction contractor, while the expansion is expected to support Centrus’ $2.3 billion commercial LEU backlog and at least 12 metric tons per year of HALEU production capacity.

Centrus Energy Corp. reported that its board adopted Fourth Amended and Restated Bylaws on March 10, 2026. The bylaws clarify the existing stockholder voting standard and update director nomination procedures to address the SEC’s universal proxy rules.

Nominating stockholders must now use a non-white proxy card, follow Rule 14a-19’s process and information requirements, and represent an intent to solicit proxies from stockholders holding at least 67% of voting power, or the company may disregard votes for those nominees. A new exclusive forum article designates Delaware courts for key internal corporate and derivative claims and federal district courts for Securities Act claims.

Centrus Energy has signed an engineering, procurement and construction agreement with Fluor Federal Services to design and build its commercial uranium enrichment expansion in Piketon, Ohio. The multi-year, time-and-materials contract is a major element of Centrus’ previously announced multi‑billion‑dollar expansion of its enrichment capacity.

The agreement includes staged funding tied to project milestones, warranties, indemnities, liability limits, bonding and insurance requirements, and termination rights, including a termination-for-convenience fee that starts at $24 million and decreases by $2 million per month during the first year. Centrus highlights this expansion as supporting a $2.3 billion commercial LEU enrichment backlog, a recent $900 million HALEU task order from the Department of Energy, and a planned investment of more than $560 million to transition its Oak Ridge, Tennessee, centrifuge factory to high‑rate manufacturing.

Centrus Energy reported full-year 2025 revenue of $448.7 million and net income of $77.8 million, modestly above 2024. Earnings were $4.33 per basic share and $3.90 per diluted share. Gross profit rose to $117.5 million as higher enrichment (SWU) volumes offset weaker uranium margins and a sharp profit decline in Technical Solutions.

The company ended 2025 with $1.96 billion in cash, cash equivalents and restricted cash and $1.18 billion of long-term debt, reflecting major equity and convertible note issuances. Total backlog reached $3.8 billion, including $2.9 billion in LEU contracts and $0.9 billion in Technical Solutions work.

Centrus highlighted expansion of its Piketon, Ohio enrichment site, domestic centrifuge manufacturing, and a $900 million Department of Energy HALEU task order selection, subject to negotiation. For 2026, it guides to $425–$475 million of revenue and plans $350–$500 million of capital deployment tied to industrial build-out, along with significant hiring in Oak Ridge and Piketon.

Centrus Energy Corp. reported that it plans a major expansion of its Technology & Manufacturing Center in Oak Ridge, Tennessee, transitioning the facility into a high-rate manufacturing plant. The company plans to create over 400 new direct jobs and invest more than $560 million in Anderson County, Tennessee, over the next several years. This expansion is described in a press release dated January 23, 2026, which is attached as an exhibit to the filing.

Centrus Energy Corp. reported that it has begun domestic centrifuge manufacturing to support commercial low-enriched uranium (LEU) enrichment at its Piketon, Ohio facility. The company plans to use this capability as part of a multi-billion-dollar uranium enrichment expansion aimed at serving a growing backlog of $2.3 billion in contingent LEU sales under U.S. and international customer contracts. Centrus also stated it is targeting future commercial-scale production of high-assay, low-enriched uranium.

The initiative is expected to create about 1,000 construction jobs and 300 new operations jobs in Ohio, along with hundreds of new direct jobs at Centrus’ centrifuge manufacturing plant in Tennessee and thousands more indirect jobs in both states and across the country.

Centrus Energy Corp. reported that the New York Stock Exchange has approved transferring the listing of its Class A common stock and associated rights to purchase Series A participating cumulative preferred stock from NYSE American to the NYSE. The shares and rights will continue to trade under the ticker symbol “LEU”.

The company expects trading on the NYSE to begin on December 4, 2025, and the securities will keep trading on NYSE American as LEU until the transfer is complete. Centrus also issued a press release about the transfer, which is included as an exhibit to the report.

Centrus Energy Corp. (LEU) established an at-the-market offering program, allowing it to sell, from time to time at its discretion, shares of Class A common stock with an aggregate offering price of up to $1,000,000,000. Sales may be made as an “at the market offering” under Rule 415 through or to Barclays, Citigroup, UBS, Evercore, B. Riley, Guggenheim Securities, MUFG, William Blair, Lake Street, and Northland as sales agents.

The company will pay a 1.50% commission on gross sales proceeds to the sales agents and is not obligated to sell any shares. The program ends upon sale of all registered shares or earlier termination under the agreement. The shares will be offered under Centrus’s Form S-3 (File No. 333-291305), which became automatically effective pursuant to Rule 462(e), and a prospectus supplement dated November 6, 2025.

Centrus Energy Corp. (LEU) reported that it issued a press release announcing financial results for the quarter ended September 30, 2025. The company furnished the release as Exhibit 99.1 to an Item 2.02 Form 8‑K dated November 5, 2025.

The materials are furnished, not filed, which means they are not subject to Section 18 liability and are not incorporated by reference into other Securities Act or Exchange Act filings.

Centrus Energy Corp. reported that it has announced plans to expand its uranium enrichment plant in Piketon, Ohio. The company explained that the size and scope of the project depend on federal funding decisions by the U.S. Department of Energy, which is running a competitive selection process to support domestic production of low enriched uranium and high-assay, low-enriched uranium.

The announcement stated that the expansion could lead to a multi-billion-dollar combination of private and public investment in Ohio. It could also create about 1,000 construction jobs and 300 new operations jobs at the Piketon site, while retaining 127 existing jobs.

Centrus Energy Corp. reported that it has signed a non-binding Memorandum of Understanding with Korea Hydro & Nuclear Power and POSCO International to explore potential investment in expanding its uranium enrichment plant in Piketon, Ohio. The parties also intend to explore additional cooperation, including possible extra supply agreements for low enriched uranium and high-assay, low-enriched uranium for next generation reactors.

The company and Korea Hydro & Nuclear Power separately agreed to a higher supply volume of low enriched uranium under an existing contract, but the full supply commitment, including the expanded volume, depends on Centrus receiving necessary federal funding to build new production capacity. The related press release is filed as an exhibit.

Centrus Energy Corp. reports final terms of the previously announced departure of Senior Vice President, Chief Financial Officer and Treasurer Kevin J. Harrill and a separate board resignation. Harrill resigned effective August 10, 2025, but will remain employed through August 29, 2025 to help transition his duties while continuing to receive his current compensation.

Under a Waiver and Release Agreement effective August 21, 2025, Harrill will receive a cash payment of $608,344, a pro rata portion of his 2025 cash incentive award with a minimum of $159,120 subject to potential increase based on 2025 company performance, and health insurance premiums for one year. The company will accelerate 5,722 outstanding unvested performance-based restricted stock units if he remains employed through August 29, 2025 and provides satisfactory advisory services. The filing also notes that director Stephanie O’Sullivan resigned from the board on August 22, 2025 and that her departure is not due to any dispute or disagreement over the company’s operations, policies, or practices.

Centrus Energy Corp. reports that the U.S. Department of Energy has granted a waiver under the Prohibiting Russian Imports Act, allowing the company to import low enriched uranium from Russia for all currently committed deliveries to U.S. customers in 2026 and 2027.

This follows an earlier waiver that only covered 2024 and 2025 deliveries. The new decision reduces regulatory uncertainty around nuclear fuel supplies for those later years and supports Centrus Energy’s ability to fulfill its existing U.S. customer contracts that rely on Russian-origin low enriched uranium.

Centrus Energy disclosed key terms for convertible notes that let holders convert $1,000 principal increments into Class A common stock beginning May 15, 2032, at an initial conversion rate of 4.3551 shares per $1,000 (about a $229.62 conversion price per share). On conversion the company may settle up to the principal amount in cash and satisfy any excess in cash, stock, or a mix at its election.

Holders may require the company to repurchase notes for cash at 100% of principal plus accrued special interest following a defined fundamental change; certain make-whole events can increase the conversion rate up to a maximum of 5.3350 shares per $1,000. Notes are not redeemable before August 20, 2029; thereafter the company may redeem if the stock trades at least 130% of the then-effective conversion price for specified trading-day tests. The Indenture lists specified events of default and notice obligations for corporate events, conversions and certain transactions.

Centrus Energy Corp. announced the pricing of an offering of $700 million aggregate principal amount of 0% convertible senior notes due 2032 in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A. The company also granted the initial purchasers an option to purchase up to an additional $105 million of notes for settlement within a 13-day period beginning on the initial closing date. The notes are convertible into shares of the company’s Class A common stock.

The press release describing the transaction is attached as Exhibit 99.1. The filing states this report does not constitute an offer to sell or a solicitation to buy the notes or any shares of Class A common stock in any jurisdiction where such an offer would be unlawful.

Centrus Energy Corp. (NYSE American: LEU) filed an 8-K announcing a leadership change in its finance function. CFO Kevin J. Harrill will resign effective 10 Aug 2025 to pursue other opportunities; the company states there are no disagreements regarding operations or accounting. Harrill will remain in an advisory capacity through 29 Aug 2025 to ensure continuity.

The Board appointed Todd K. Tinelli (45) as Senior VP, Chief Financial Officer and Treasurer effective 11 Aug 2025. Tinelli previously served as CFO & COO of Hartree Partners LP/Sprague Resources LP, overseeing M&A, capital projects, budgeting and capital-markets activity.

Key compensation terms: base salary $425,000; target annual cash bonus equal to 80 % of salary (prorated); relocation reimbursement up to $125,000; equity package of $100k in common stock plus $300k in RSUs vesting over three years. He will participate in standard benefit and severance plans and must secure a DOE “Q” security clearance within 18 months. A press release (Ex. 99.1) dated 8 Aug 2025 publicised the change.

No financial results or guidance were provided; the filing is limited to governance matters.

Centrus Energy Corp (NYSE: LEU) has announced a significant milestone in its nuclear fuel production contract with the U.S. Department of Energy. The company's subsidiary, American Centrifuge Operating, has successfully completed Phase II of its contract by producing and delivering 900 kilograms of High-Assay, Low-Enriched Uranium (HALEU).

Key developments include:

• Total HALEU production has exceeded 920 kilograms to date under the DOE contract
• Company has now advanced to Phase III of the contract
• Achievement demonstrates Centrus's capability in producing advanced nuclear fuel

This development is particularly significant as HALEU is a crucial fuel for next-generation nuclear reactors. The successful completion of Phase II production targets positions Centrus as a key player in the domestic nuclear fuel supply chain.

Centrus Energy Corp (NYSE American: LEU) held its 2025 annual meeting of stockholders on June 20, 2025, with 69% shareholder participation (11,196,692 shares present out of 16,318,066 outstanding shares).

Three key proposals were voted on:

• Board Elections: Seven directors were elected, with Stephanie O'Sullivan and Ray A. Rothrock receiving the highest approval rates (96% and 96.2% respectively), while William J. Madia received the lowest support (69%).
• Say-on-Pay: The executive compensation package was approved with 90.1% support (5,632,737 votes in favor).
• Auditor Appointment: Shareholders overwhelmingly ratified Deloitte & Touche LLP as independent auditors for 2025, with 97.7% approval (10,942,858 votes in favor).

Centrus Energy has secured a significant contract amendment with the U.S. Department of Energy regarding its HALEU (High-Assay, Low-Enriched Uranium) Demonstration Cascade project. The original contract's first three-year option period has been split into two parts:

Key Financial Terms:

• Option 1a (1-year): Target cost of $99.3 million with fee of $8.7 million
• Option 1b (2-years): Target cost of $163.5 million with fee of $15.2 million
• DOE has exercised Option 1a, valued at approximately $110 million, extending performance to June 30, 2026

The amendment acknowledges that Option 1b's estimated cost is insufficient due to cost increases since the original contract award. ACO must submit a revised cost proposal before DOE considers Option 1b. All HALEU produced under this contract remains Department property.