Company: LEU
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001065059-25-000024
Chunk: 58

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 58
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, par value $1.00 per share, from $18.00 to $160.38; and (ii) extended the Final Expiration Date (as defined in the Rights Agreement) from June 30, 2023 to June 30, 2026.The Fifth Amendment was not adopted as a result of, or in response to, any effort to acquire control of the Company. The Fifth Amendment was adopted in order to preserve for the Company’s stockholders the long-term value of the Company’s NOL carry-forwards for United States federal income tax purposes and other tax benefits.The Sixth Amendment was approved by the Board on May 28, 2024, and made clarifying changes relating to the definition of “Beneficial Owner”, “beneficially owned” and “Beneficial Ownership” contained in the Rights Agreement.    

25

Awards under Executive Incentive PlanUnder the Company’s 2019 Equity Incentive Plan, participating employees are eligible to receive grants of equity awards such as restricted stock, restricted stock units, notional stock units and SARs, and other stock-based awards. In March 2022, 2023, and 2024 and in February 2025, restricted stock units were granted to participating executives with a vesting period ending in March 2025, 2026, 2027, and 2028 respectively. The restricted stock unit awards are time based and payable in shares of the Company’s Class A Common Stock subject to the Company achieving a threshold level of cumulative net income over the vesting period. The grant-date fair value is included in Excess of Capital Over Par Value as the value is amortized over the vesting period.The Class A Common Stock issued for the 2021-2023 performance period were issued in March 2024. The Company withheld $0.1 million of shares to fund the tax withholding obligations of the share recipients under the terms of the stock-based compensation plan.The Class A Common Stock issued for the 2022-2024 performance period were issued in March 2025. The Company withheld $0.3 million of shares to fund the tax withholding obligations of the share recipients under the terms of the stock-based compensation plan.

11.  COMMITMENTS AND CONTINGENCIES

Commitments under SWU Purchase AgreementsTENEXThe Russian government-owned entity TENEX is a major supplier of SWU to the Company. Under the 2011 TENEX Supply Contract, the Company purchases SWU contained in LEU received