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