After a round of small-group meetings Wednesday morning — held mainly to discuss pension issues — the union returned to league offices shortly before 3 p.m. ET to deliver its latest proposal. It was the fourth proposal made between the two sides in the past six days.

The meeting, which included several players, lasted approximately one hour.

The two sides expect to reconvene Wednesday evening, NHLPA executive director Donald Fehr said. According to a source, the next meeting is set tentatively for 8 p.m. ET.

Fehr declined to comment on whether the NHLPA will file a disclaimer of interest, which would dissolve the union, although the executive board will hold a conference call on the matter at some point Wednesday night.

The players have until midnight Wednesday to decide whether to dissolve the NHLPA, thereby nullifying its right to collectively bargain as a union.

With little details emerging from the information exchange between the sides, the NHLPA’s decision will provide the best glimpse at where negotiations stand.

A vote to disclaim interest would have a significant impact on negotiations — possibly derailing them altogether — and would be a sign the two sides are not as close as many had hoped.

Should it let the deadline pass, it is possible the union believes it can reach a deal.

The league already has canceled all games through Jan. 14, and the deadline to salvage the season is looming. NHL commissioner Gary Bettman said a deal would need to be reached by Jan. 11 in order for a 48-game season to be possible.

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