Filing Details
- Accession Number:
- 0000892712-16-001790
- Form Type:
- 13D Filing
- Publication Date:
- 2016-07-27 12:39:47
- Filed By:
- Heartland Advisors Inc
- Company:
- Perma Fix Environmental Services Inc
- Filing Date:
- 2016-07-27
- SEC Url:
- 13D Filing
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
---|---|---|---|---|---|---|
Heartland Advisors, Inc | 0 | 1,416,900 | 0 | 1,576,007 | 1,576,007 | 13.6% |
William J. Nasgovitz | 0 | 1,416,900 | 0 | 1,576,007 | 1,576,007 | 13.6% |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Perma-Fix Environmental Services, Inc.
(Name of Issuer)
Common Stock, $0.001 Par Value
(Title of Class of Securities)
714157203
(CUSIP Number)
Vinita K. Paul
Vice President, General Counsel, and Assistant Secretary
Heartland Advisors, Inc.
789 N. Water Street
Milwaukee, Wisconsin 53202
(414) 347-7777
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on
Behalf of Filing Persons)
_______________________________
July 26, 2016
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. x
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7(b) for other parties to whom copies are to be sent.
*
The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 714157203
1. | NAME OF REPORTING PERSON Heartland Advisors, Inc. | ||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) | ||
3. | SEC USE ONLY | ||
4. | SOURCE OF FUNDS OO Funds of investment advisory clients | ||
5. | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) ¨ | ||
6. | CITIZENSHIP OR PLACE OF ORGANIZATION Wisconsin | ||
NUMBER OF | 7. | SOLE VOTING POWER 0 shares | |
8. | SHARED VOTING POWER 1,416,900 shares | ||
9. | SOLE DISPOSITIVE POWER 0 shares | ||
10. | SHARED DISPOSITIVE POWER 1,576,007 shares | ||
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,576,007 shares | ||
12. | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨ | ||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13.6% | ||
14. | TYPE OF REPORTING PERSON IA |
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CUSIP No. 714157203
1. | NAME OF REPORTING PERSON William J. Nasgovitz | ||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) | ||
3. | SEC USE ONLY | ||
4. | SOURCE OF FUNDS OO Funds of investment advisory clients | ||
5. | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) ¨ | ||
6. | CITIZENSHIP OR PLACE OF ORGANIZATION United States of America | ||
NUMBER OF | 7. | SOLE VOTING POWER 0 shares | |
8. | SHARED VOTING POWER 1,416,900 shares | ||
9. | SOLE DISPOSITIVE POWER 0 shares | ||
10. | SHARED DISPOSITIVE POWER 1,576,007 shares | ||
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,576,007 shares | ||
12. | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨ | ||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13.6% | ||
14. | TYPE OF REPORTING PERSON IN, HC |
3
Item 1.
Security and Issuer
This statement on Schedule 13D (this Schedule 13D) relates to the shares of common stock, $0.001 par value per share (the Common Stock), of Perma-Fix Environmental Services, Inc. a Delaware corporation (the Company). The address of the principal executive office of the Company is at 8302 Dunwoody Place, Suite 250, Atlanta, GA 30350.
Item 2.
Identity and Background
The persons filing this Schedule 13D are Heartland Advisors, Inc. and William J. Nasgovitz (collectively, the Reporting Persons).
Heartland Advisors, Inc. (Heartland) is an investment adviser registered with the SEC that provides investment advisory services to Heartland Group, Inc., a registered investment company, as well as private investment advisory clients (collectively, the Client Accounts). As investment adviser to the Client Accounts, Heartland has the authority to invest the funds of the Client Accounts in securities (including shares of Common Stock of the Company) as well as the authority to purchase, vote and dispose of securities (including shares of Common Stock of the Company), and may thus be deemed the beneficial owner of the shares of the Companys Common Stock held by Heartland on behalf of the Client Accounts.
Mr. William J. Nasgovitz is the Chairman and Chief Investment Officer as well as a director and control person of Heartland. By virtue of his control of Heartland, Mr. Nasgovitz may be deemed to have a beneficial interest in the shares of the Companys Common Stock held by Heartland on behalf of the Client Accounts. Mr. Nasgovitz does not own any Common Stock for his own account and disclaims beneficial ownership of the shares of Common Stock reported herein. Information regarding the executive officers and directors of Heartland is set forth on Annex 1 attached hereto and incorporated herein by reference.
Heartland is a Wisconsin corporation. Mr. Nasgovitz is a U.S. citizen. The principal business office address of Mr. Nasgovitz and Heartland is 789 North Water Street, Milwaukee, WI 53202.
None of the Reporting Persons have, during the past five years, been convicted of any criminal proceeding (excluding traffic violations or similar misdemeanors).
None of the Reporting Persons have, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Item 3.
Source and Amount of Funds or Other Consideration
Heartland has beneficially owned shares of Common Stock on behalf of Client Accounts for a number of years. As of July 26, 2016, Heartland had acquired an aggregate of 1,576,007 shares of the Companys Common Stock. All shares of Common Stock held by Heartland on behalf of the Client Accounts were purchased with funds provided by the Client Accounts.
Item 4.
Purpose of Transaction
Heartland acquired the Common Stock for investment purposes.
4
Heartland has engaged, and may engage in the future, in communications with one or more officers, directors, or other representatives of the Company regarding the Company, including but not limited to, its operations and ways in which the Company can improve performance and corporate governance and maximize stockholder value. Heartland may discuss ideas that, if effected, may result in changes in the board of directors or management of the Company and/or other strategic alternatives, such as the hiring of an investment banker to find an appropriate buyer. Representatives of Heartland may attend the Companys shareholder meeting on July 28, 2016 and may express Heartlands views on the Company and its performance.
Although no Reporting Person has any specific plan or proposal to acquire or dispose of the Common Stock, the Reporting Person may, at any time and from time to time, acquire additional Common Stock or dispose of any or all of their Common Stock depending upon an ongoing evaluation of the investment in the Common Stock, prevailing market conditions, other investment opportunities, liquidity requirements of the Client Accounts and Heartlands fiduciary duty to such clients.
Except as set forth above, neither of the Reporting Persons has any plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of the instructions to Item 4 of Schedule 13D. The Reporting Persons may, at any time and from time to time, review or reconsider their position and/or change their purpose and/or formulate plans or proposals with respect thereto.
Item 5.
Interest in Securities of the Issuer
The aggregate percentage of shares of Common Stock reported owned by each person named herein is based upon 11,574,331 shares outstanding, which is the total number of shares of Common Stock outstanding as of June 9, 2016, as reported in the Companys Schedule 14A, filed with the Securities and Exchange Commission on June 23, 2016.
As the date hereof, as investment adviser to the Client Accounts, Heartland may be deemed the beneficial owner of 1,576,007 shares, or approximately 13.6%, of the Companys Common Stock. The clients of Heartland, a registered investment adviser, including a series of a registered investment company and other managed accounts, have the right to receive or the power to direct the receipt of dividends and proceeds from the sale of shares of the Companys Common Stock held by Heartland included in this Schedule 13D. The Heartland Value Fund, a series of Heartland Group, Inc., a registered investment company, owns greater than 5% of the Common Stock of the Company. Any remaining shares of Common Stock disclosed in this filing as owned by Heartland and Mr. Nasgovitz are owned by various other Client Accounts managed by Heartland on a discretionary basis. To the best of Heartlands knowledge, as of July 26, 2016, none of the other Client Accounts owns more than 5% of the shares of the Companys Common Stock outstanding.
Heartland, as investment adviser to the Client Accounts, may be deemed to have shared voting power with respect to 1,416,900 shares and shared dispositive power with respect to 1,576,007 shares of Common Stock. Mr. Nasgovitz, as a control person of Heartland, may be deemed to have shared voting power with respect to 1,416,900 shares of the Companys Common Stock and shared dispositive power with respect to 1,576,007 shares and may thus be deemed the indirect beneficial owner of the shares beneficially owned by Heartland. Mr. Nasgovitz specifically disclaims beneficial ownership of such shares.
A description of any transactions in the Common Stock by Heartland, on behalf of its clients, during the past sixty (60) days from the date hereof is set forth on Annex 2 attached hereto and incorporated herein by reference.
5
Item 6.
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
Heartland is the investment adviser of the Client Accounts pursuant to separate investment management agreements that provide Heartland with the authority to (i) invest the funds of the Client Accounts in securities (including shares of Common Stock of the Company), (ii) hold, vote and dispose of securities (including shares of Common Stock of the Company), and (iii) file this statement.
Neither of the Reporting Persons, or, to the best knowledge of the Reporting Persons, the other persons named in Item 2, has any contract, arrangement, understanding or relationship with any person with respect to any securities of the Company.
Exhibit |
| Description |
1 |
| Joint Filing Agreement |
2 |
| Power of Attorney |
6
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: July 27, 2016
HEARTLAND ADVISORS, INC.
By: /s/ Vinita K. Paul
Name: Vinita K. Paul
Title: Vice President, General Counsel, and Assistant Secretary
WILLIAM J. NASGOVITZ
By: /s/ Vinita K. Paul
Name: Vinita K. Paul
Title: Attorney in Fact for William J. Nasgovitz (Pursuant to Power of Attorney Filed Herewith)
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ANNEX 1
DIRECTORS AND EXECUTIVE OFFICERS OF REPORTING PERSONS
HEARTLAND ADVISORS, INC.
The name and present principal occupation or employment of each director and executive officer of Heartland Advisors, Inc. are set forth below. The business address of each person is 789 North Water Street, Milwaukee, WI 53202. All of the persons listed below are U.S. citizens. To the best of the Reporting Persons knowledge, during the last five years, no such person has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) and no such person was a party to any civil or administrative proceeding.
Name | Principal Occupation |
William J. Nasgovitz | Director and Chairman |
William R. Nasgovitz | Director and Chief Executive Officer |
Paul T. Beste | Director, Senior Vice President, Chief Risk Officer and Secretary |
Bradford A. Evans | Director and Senior Vice President |
David C. Fondrie | Senior Vice President |
Kevin D. Clark | Senior Vice President |
Vinita K. Paul | Vice President, General Counsel, and Assistant Secretary |
Nicole J. Best | Senior Vice President, Chief Financial Officer and Chief Administrative Officer |
Elizabeth B. Scalf | Vice President, Chief Compliance Officer |
Jeanne Kolimaga | Vice President |
Matthew J. Miner | Vice President |
Michael D. Kops | Vice President |
Catherine M. Stephenson | Vice President |
Robert C. Sharpe | Vice President |
Colin McWey | Vice President |
Michal F. Jolin | Vice President |
Eric J. Miller | Vice President |
Andrew J. Fleming | Vice President |
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ANNEX 2
TRANSACTIONS
Trade Date | Reporting | Transaction | Number of | Price Per |
06/03/2016 | Heartland | Sell | 49,800 | 5.03 |
06/06/2016 | Heartland | Sell | 50,000 | 5.30 |
06/07/2016 | Heartland | Sell | 69,700 | 5.33 |
06/07/2016 | Heartland | Sell | 5,300 | 5.30 |
06/08/2016 | Heartland | Sell | 31,100 | 5.50 |
06/16/2016 | Heartland | Buy | 800 | 5.14 |
06/17/2016 | Heartland | Buy | 400 | 5.31 |
06/20/2016 | Heartland | Buy | 800 | 5.40 |
06/23/2016 | Heartland | Sell | 6,200 | 5.29 |
06/28/2016 | Heartland | Sell | 2,700 | 5.38 |
07/05/2016 | Heartland | Sell | 5,000 | 5.07 |
07/07/2016 | Heartland | Sell | 3,505 | 5.11 |
07/14/2016 | Heartland | Buy | 1,000 | 5.07 |
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|
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__________________________
1
All trades were made in the open market.
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INDEX TO EXHIBITS
Exhibit | Description |
1 | Joint Filing Agreement |
2 | Power of Attorney |
10
Exhibit 1
Exhibit 1 Joint Filing Agreement
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13D) on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to Common Stock (as defined) and to the attachment of this agreement to the Schedule 13D as Exhibit 1 thereto.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement this 27th day of July, 2016.
Dated: July 27th, 2016 | Heartland Advisors, Inc. |
|
|
|
|
| By: /s/ Vinita K. Paul |
| Vinita K. Paul |
| Vice President, General Counsel, and Assistant |
| Secretary |
|
|
Dated: July 27th, 2016 | William J. Nasgovitz |
|
|
|
|
| By: /s/ Vinita K. Paul |
| Vinita K. Paul |
| As Attorney-in-Fact for William J. Nasgovitz |
|
|
Exhibit 2
POWER OF ATTORNEY
For Executing Forms 3, 4 and 5 and Schedule 13G/13D
Know all by these present, that the undersigned, William J. Nasgovitz, constitutes and appoints each of Paul T. Beste and Vinita K. Paul, signing singly, his true and lawful attorney-in-fact to:
(1)
complete and execute for and on behalf of the undersigned Forms 3, 4 and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934, as amended (the Act) and the rules thereunder, or any successor laws and regulations;
(2)
complete and execute for and on behalf of the undersigned filings on Schedule 13G and Schedule 13D in accordance with Section 13(d) of the Act, and the rules thereunder, or any successor laws and regulations;
(3)
do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete the execution of any such Forms 3, 4 or 5 or Schedules 13D and 13G and the timely filing of such forms with the United States Securities and Exchange Commission and any other authority; and
(4)
take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to the Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in his or her discretion.
The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform all and every act and thing whatsoever requisite, necessary and proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as such attorney-in-fact might or could do if personally present, with full power of substitution or revocation, cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming any of the undersigneds responsibilities to comply with Section 16 or Section 13(d) of the Act and the rules thereunder.
This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4 or 5, or Schedule 13G/13D, unless earlier revoked by the undersigned in a writing delivered to the foregoing attorneys-in-fact.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 27th day of November, 2013.
/s/ Bill Nasgovitz
William J. Nasgovitz