enCore Energy terminates CEO Robert Willette; awards separation package
enCore Energy Corp. terminated Robert J. Willette as Chief Executive Officer effective April 20, 2026, without cause. Under a Separation and General Release Agreement dated July 8, 2026, Willette will receive a cash payment of $1,800,000 (less applicable tax withholdings and documented attorneys' fees) and 300,000 fully vested nonqualified stock options with a five-year exercise term under the 2024 Long Term Incentive Plan, in exchange for a general release of claims and continued consulting services. Willette will forfeit all other unvested equity awards previously granted.
Key facts
- Cash severance payment: $1,800,000, less applicable tax withholdings and deductions and Executive's documented attorneys' fees
- Grant of 300,000 fully vested nonqualified stock options with five-year term under the 2024 Long Term Incentive Plan
- Exercise price: closing price of Company's common shares on grant date as reported on NASDAQ
- Termination effective date: April 20, 2026
- Separation Agreement effective date: July 8, 2026
- Forfeiture of all unvested stock options and restricted stock units previously granted
- Cooperation obligation includes pending litigation: Sun Zhongjian, et al., v. enCore Energy Corp., et al., No. 4:25-cv-01234, U.S. District Court for the Southern District of Texas
Why it matters
The departure of the CEO and the substantial severance package, including equity retention tied to consulting obligations, signal a negotiated exit and ongoing reliance on Willette's knowledge for pending litigation and operations.
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Derived from 8-K filed 2026-07-09. Not investment advice. View the source filing on SEC.gov →