Centrus Energy Corp. (NYSEMKT:LEU) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Centrus Energy Corp. (NYSEMKT:LEU) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

(f) As previously disclosed in the Centrus Energy Corp. (the Company) Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 23, 2019 (the Proxy Statement), the Companys 2016 Executive Incentive Plan provided for an award consisting of (i) an annual cash award for 2016 (which was paid in 2017) and (ii) a three-year long-term incentive plan (LTIP) consisting of a cash award, payable in 2019, and a grant of equity as a notional award (the LTI Equity Award), also payable in 2019. The material terms of the LTIP, including the LTI Equity Award, were previously summarized under the section titled Long Term Incentive Cash Awards under 2016 Executive Incentive Plan in the Companys Proxy Statement.
At the time of filing the Proxy Statement, the amount of the LTI Equity Award for each of the named executive officers in the Proxy Statement was not determinable. The Company determined that each of Messrs. Poneman, Dyke, and Greene would be paid the amounts of $104,545, $48,788, and $48,788, respectively, in May 2019 consistent with the terms of the LTI Equity Award based on the Compensation, Nominating Governance Committees evaluation of the Companys achievement of specific strategic business transition goals. Updating the disclosure contained in the Proxy Statement, the ending price of the LTI Equity Award was calculated based upon the average closing prices between April 2, 2019 and April 30, 2019.
Below is an updated summary compensation table:
Summary Compensation Table – Fiscal Years 2017-2018
The following table sets forth information regarding the compensation for fiscal years 2017 and 2018 awarded to, earned by, or paid to (i) the principal executive officer of the Company during 2018, and (ii) the two other most highly compensated executive officers of the Company during 2018 who were serving as executive officers at December 31, 2018 (together, the named executive officers).
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