Company: LEU
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001104659-25-039220
Chunk: 37

Company: CENTRUS ENERGY CORP
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 37
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-term equity incentives. The achievement of better than targeted results in the corporate goals was reflected in the decision made by the CN&G Committee to award annual incentives based on achieving 167% of the goals. Further, the long-term equity incentive directly ties the compensation of executives to stockholder returns. At target, approximately 54% of the total compensation of our executives is “at risk” and related directly to the performance of the Company. Changes Made to the Compensation Program for 2024 The overall structure of the compensation program was not changed in 2024. Each year the corporate goals are established based on the strategy and budget approved by the Board. In 2024, the long-term incentive plan was based entirely on equity and included a performance-based threshold which must be met to receive payment. Executive Transitions 2024/2025 Chief Executive Officer On November 20, 2023, the Company announced the transition of the CEO from Daniel B. Poneman to Mr. Vexler effective January 1, 2024. On January 1, 2024, Mr. Vexler began as our President and CEO. In connection with that appointment, on January 1, 2024, the CN&G Committee granted Mr. Vexler an award of 20,000 restricted stock units (the “CEO RSUs”). The CEO RSUs vest in five equal annual installments beginning on December 4, 2024, subject to Mr. Vexler obtaining a Department of Energy Q security clearance which he satisfied and his continued employment. For more information regarding the impact of the transition arrangement on Mr. Vexler, including a summary of the terms of Mr. Vexler’s employment agreement, please see “Executive Compensation — CEO Employment Agreement” in the discussion of executive compensation. 27

TABLE OF CONTENTS

Senior Vice President, Field Operations In October 2024, Larry B. Cutlip, Senior Vice President, Field Operations of the Company provided notice that he will retire his position at the Company effective July 31, 2025, after more than 44 years of service. Other Changes Made to the Compensation Program for 2025 With the exception of the update to the Company’s Executive Severance Plan described below under “Severance and Change in Control Agreements,” the compensation program for 2025 is consistent in material respects with 2024. Annual corporate goals were established and again for 2025, the long-term incentive plan is based entirely on equity and included