Perma-Fix (NASDAQ: PESI) inks 5-year union deal, plans new exec contracts

Rhea-AI Filing Summary

Perma-Fix Environmental Services, Inc. entered a new collective bargaining agreement for seventy-one production employees at its Perma-Fix Northwest Richland facility, effective October 1, 2025. The agreement runs through October 1, 2030 and then renews annually unless either party gives written notice at least sixty days before October 1, 2030. It covers pay, benefits, time off and working conditions, and provides annual base hourly wage increases equal to one percent plus the annual percentage change in the CPI-U Western Region Average, while maintaining existing healthcare and 401(k) benefits.

The company also elected not to extend the existing employment agreements for its president and chief executive officer, chief financial officer and other named executive officers beyond April 20, 2026. The compensation committee plans to recommend modifications, and the company states its intention to offer new agreements effective April 21, 2026.

Insights

Labor & governance analyst

New long-term union contract and reset of top executive agreements.

Perma-Fix locked in a five-year collective bargaining agreement for seventy-one production employees at its PFNW facility starting October 1, 2025. Annual wage increases are formula-based at one percent plus the CPI-U Western Region Average, which links labor costs directly to regional inflation while preserving existing healthcare and 401(k) benefits.

Separately, the board’s compensation committee chose not to extend current employment agreements for the CEO, CFO and other senior executives beyond April 20, 2026. The company indicates an intention to implement new agreements effective April 21, 2026, suggesting a planned refresh of contract terms rather than immediate leadership changes.

This combination formalizes labor arrangements at a key facility while giving the board flexibility to revise executive compensation and governance terms when the current agreements expire, with details of the new contracts to come in future disclosures.

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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) September 25, 2025

PERMA FIX ENVIRONMENTAL SERVICES INC 

PERMA-FIX ENVIRONMENTAL SERVICES, INC.

(Exact name of registrant as specified in its charter)

Delaware		1-11596		58-1954497
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

8302 Dunwoody Place, Suite 250, Atlanta, Georgia		30350
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (770) 587-9898

Not applicable

(Former name or former address, if changed since last report)

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
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol		Name of each exchange on which registered
Common Stock, Par Value, $.001 Per Share		PESI		Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

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 1.01 – Entry into a Material Definitive Agreement.

Collective Bargaining Agreement

On September 25, 2025, Perma-Fix Environmental Services, Inc.’s (the “Company”) wholly owned subsidiary, Perma-Fix Northwest Richland, Inc. (“PFNW”), entered into a Collective Bargaining Agreement (the “CBA”), with the United Association of Plumbers and Steamfitters Local Union 598 (the “Union”), to become effective October 1, 2025. The CBA covers seventy-one (71) production employees (“Covered Employees”) at the Company’s PFNW facility, and its purpose is to attempt to maintain a skilled and stabilized labor force for its waste treatment operations.

The CBA generally governs, among other things, the Covered Employees’ compensation, vacation/holiday/sick pay, and working conditions. The CBA provides for annual base hourly wage increases for Covered Employees equal to one percent (1%) plus the annual percentage change in the Consumer Price Index for All Urban Consumers (CPI-U), Western Region Average. The Company will continue to offer its healthcare benefits and 401k plan to the Covered Employees under the CBA.

The term of the CBA is October 1, 2025 through October 1, 2030, and the CBA renews automatically on an annual basis thereafter, unless either PFNW or the Union gives written notice at least sixty (60) days prior to October 1, 2030 of its intent to modify or terminate the CBA.

Item 1.02 – Termination of a Material Definitive Agreement.

Employment Agreements

Each of the Company’s executive officers: Mark Duff, President and Chief Executive Officer; Ben Naccarato, Executive Vice President (“EVP”) and Chief Financial Officer; Dr. Louis Centofanti, EVP of Strategic Initiatives; Richard Grondin, EVP of Hanford and International Waste Operations, has an employment agreement dated April 20, 2023, the material terms of which have been previously reported on Item 5.02 of the Company’s Form 8-K dated April 20, 2023, incorporated here by reference. Additionally, Troy Eshleman, Chief Operating Officer, has an employment agreement dated April 17, 2025, the material terms of which have been previously reported on Item 5.02 of the Company’s Form 8-K dated April 17, 2025, incorporated herein by reference (each referenced employment agreement is referred to individually as an “Employment Agreement” and, collectively, as the “Employment Agreements”). Each of the Employment Agreements provides that such agreement will automatically be extended for one additional year on April 20, 2026, unless at least six months prior to April 20, 2026, the Company or the executive officer provides written notice to the other not to extend the terms of the Employment Agreement.

On September 29, 2025, the Company’s Compensation and Stock Option Committee (the “Committee”), on behalf of the Company and its Board of Directors (the “Board”), notified each of the executive officers that his current Employment Agreement as disclosed above will not be extended. The Committee will make recommendations to the Company’s Board as to proposed modifications to each of the Employment Agreements. It is the Company’s intention to offer new agreements to the executive officers to be effective April 21, 2026.

Item 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The information contained in Item 1.02, “Employment Agreements” is incorporated herein by reference.

Item 9.01 – Financial Statements and Exhibits

(d) Exhibits.

Exhibit Number		Description
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

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Signatures

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 hereunto duly authorized.

Dated: September 30, 2025

	PERMA-FIX ENVIRONMENTAL SERVICES, INC.
	By:	/s/ Ben Naccarato
		Ben Naccarato
		Executive Vice President and
		Chief Financial Officer

3

FAQ

What labor agreement did Perma-Fix Environmental Services (PESI) enter into?

Perma-Fix’s subsidiary Perma-Fix Northwest Richland, Inc. entered a collective bargaining agreement with the United Association of Plumbers and Steamfitters Local Union 598 covering seventy-one production employees at its PFNW facility.

When does the new collective bargaining agreement for PESI’s PFNW facility start and end?

The collective bargaining agreement becomes effective on October 1, 2025 and runs through October 1, 2030, then renews automatically each year unless either party gives written notice at least sixty days before October 1, 2030 to modify or terminate it.

How are wage increases structured under PESI’s new collective bargaining agreement?

Covered employees receive annual base hourly wage increases equal to one percent plus the annual percentage change in the CPI-U Western Region Average, with the company continuing to offer its healthcare benefits and 401(k) plan.

What change did PESI make regarding executive employment agreements?

On September 29, 2025, the compensation and stock option committee notified the president and chief executive officer, chief financial officer and other named executives that their current employment agreements will not be extended beyond their existing term.

Does PESI intend to keep its current executives after the employment agreements expire?

The company states its intention to offer new agreements to the executive officers, with those new agreements expected to be effective on April 21, 2026, following the expiration of the current contracts.

Which executives at PESI are affected by the decision not to extend current employment agreements?

The decision applies to Mark Duff (president and chief executive officer), Ben Naccarato (executive vice president and chief financial officer), Dr. Louis Centofanti (EVP of strategic initiatives), Richard Grondin (EVP of Hanford and international waste operations), and Troy Eshleman (chief operating officer).