How are SOLV Energy (MWH) Opco LLC Interests related to Class A and Class B shares?

Under the Opco limited liability company agreement, Opco LLC Interests are redeemable one-for-one for Class A common shares or cash. When redeemed, an equal number of Class B common shares, which carry voting but no economic rights, are surrendered and cancelled without additional consideration.

SOLV Energy (MWH) director redeems 3,093 Opco units for cash in follow-on

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

SOLV Energy, Inc. director Daniel P. McQuade reported an issuer-related disposition of Opco units. He transferred 3,093 SOLV Energy Holdings LLC Interests back to the issuer for cash in connection with a follow-on public offering at a price based on $36.00 per Class A share, net of underwriting discounts and commissions. An equal number of his Class B common shares were cancelled, and he now holds 33,781 Opco LLC Interests directly. This was a disposition to the issuer rather than an open‑market trade.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider McQuade Daniel P

Role null

Type	Security	Shares	Price	Value
Disposition	SOLV Energy Holdings LLC Interests	3,093	$0.00	--

Holdings After Transaction: SOLV Energy Holdings LLC Interests — 33,781 shares (Direct, null)

Footnotes (1)

Pursuant to the limited liability company agreement ("Opco LLCA") of SOLV Energy Holdings LLC ("Opco"), the Reporting Person is entitled to redeem common units of Opco ("Opco LLC Interests") for, at the Issuer's election, shares of Class A common stock of the Issuer ("Class A common stock") on a one-for-one basis or, using proceeds from a substantially contemporaneous follow-on offering or secondary offering, a cash payment equal to the price per share of the Class A common stock net of any underwriting discounts or commissions paid in such offering, in each case in accordance with the terms of the Opco LLCA. Upon a redemption of Opco LLC Interests, an equal number of shares of Class B common stock of the Issuer held by the Reporting Person will be surrendered to and cancelled by the Issuer for no additional consideration. (Continued from footnote 1) Each share of Class B common stock entitles the Reporting Person to one vote per share but carries no economic rights. Opco LLC Interests do not have an expiration date. Represents the direct exchange for cash of 3,093 Opco LLC Interests held by the Reporting Person (and the cancellation of an equal number of shares of Class B common stock of the Issuer held by the Reporting Person) in connection with the public offering of Class A common stock by affiliates of American Securities LLC and the Issuer pursuant to the prospectus dated May 28, 2026, and accompanying registration statement on Form S-1 (File No. 333-296238), of the Issuer (the "Follow-On Offering"). Represents a price per Opco LLC Interest equal to the public offering price in the Follow-On Offering of $36.00 per share of Class A common stock, net of underwriting discounts and commissions.

Key Figures

Opco LLC Interests disposed: 3,093 interests Price per Opco LLC Interest: $36.00 Holdings after transaction: 33,781 interests +2 more

5 metrics

Opco LLC Interests disposed 3,093 interests Issuer disposition on 2026-06-01

Price per Opco LLC Interest $36.00 Equal to public offering price per Class A share, net fees

Holdings after transaction 33,781 interests Opco LLC Interests directly owned following disposition

Class B shares cancelled 3,093 shares Cancelled upon exchange of Opco LLC Interests

Form type Form 4 Insider disposition to issuer of derivative interests

Key Terms

Opco LLC Interests, Class B common stock, Follow-On Offering, public offering price, +1 more

5 terms

Opco LLC Interests financial

"Represents the direct exchange for cash of 3,093 Opco LLC Interests held by the Reporting Person"

Class B common stock financial

"an equal number of shares of Class B common stock of the Issuer held by the Reporting Person will be surrendered"

A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

Follow-On Offering financial

"pursuant to the prospectus dated May 28, 2026... of the Issuer (the "Follow-On Offering")"

A follow-on offering is when a company sells additional shares to the public after its initial stock listing to raise more cash. For investors it matters because the new shares increase the total number of shares outstanding, which can reduce each existing shareholder’s ownership share and earnings per share—similar to baking more loaves of bread after the first batch, which means each slice represents a slightly smaller piece of the whole; the funds raised can also support growth or pay debt.

public offering price financial

"equal to the public offering price in the Follow-On Offering of $36.00 per share"

The public offering price is the amount of money a company charges investors to buy its shares during a new stock sale to the public. It determines how much the company raises and how much each share is worth at the start of trading. For investors, it helps gauge the initial value of the stock and whether it might be a good investment opportunity.

underwriting discounts and commissions financial

"net of underwriting discounts and commissions"

Underwriting discounts and commissions are fees paid to financial institutions that help sell new securities to investors. They act like a commission for their role in connecting companies with buyers, often reducing the amount of money the issuing company raises. For investors, understanding these costs helps gauge how much of their investment is going toward the actual securities versus fees paid to middlemen.

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Form 4 Insider Transactions: What Each Field Means →

06/03/2026 - 05:34 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

McQuade Daniel P

(Last)

(First)

(Middle)

C/O SOLV ENERGY, INC.

16680 WEST BERNARDO DRIVE

(Street)

SAN DIEGO

CALIFORNIA

92127

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SOLV Energy, Inc. [ MWH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
SOLV Energy Holdings LLC Interests	⁽¹⁾⁽²⁾	06/01/2026		D			3,093⁽³⁾	⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	Class A Common Stock	3,093⁽³⁾	⁽⁴⁾	33,781	D

Explanation of Responses:

1. Pursuant to the limited liability company agreement ("Opco LLCA") of SOLV Energy Holdings LLC ("Opco"), the Reporting Person is entitled to redeem common units of Opco ("Opco LLC Interests") for, at the Issuer's election, shares of Class A common stock of the Issuer ("Class A common stock") on a one-for-one basis or, using proceeds from a substantially contemporaneous follow-on offering or secondary offering, a cash payment equal to the price per share of the Class A common stock net of any underwriting discounts or commissions paid in such offering, in each case in accordance with the terms of the Opco LLCA. Upon a redemption of Opco LLC Interests, an equal number of shares of Class B common stock of the Issuer held by the Reporting Person will be surrendered to and cancelled by the Issuer for no additional consideration.

2. (Continued from footnote 1) Each share of Class B common stock entitles the Reporting Person to one vote per share but carries no economic rights. Opco LLC Interests do not have an expiration date.

3. Represents the direct exchange for cash of 3,093 Opco LLC Interests held by the Reporting Person (and the cancellation of an equal number of shares of Class B common stock of the Issuer held by the Reporting Person) in connection with the public offering of Class A common stock by affiliates of American Securities LLC and the Issuer pursuant to the prospectus dated May 28, 2026, and accompanying registration statement on Form S-1 (File No. 333-296238), of the Issuer (the "Follow-On Offering").

4. Represents a price per Opco LLC Interest equal to the public offering price in the Follow-On Offering of $36.00 per share of Class A common stock, net of underwriting discounts and commissions.

	/s/ Adam S. Forman, attorney-in-fact	06/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did SOLV Energy (MWH) director Daniel P. McQuade report?

Daniel P. McQuade reported disposing of 3,093 SOLV Energy Holdings LLC Interests back to the issuer. The transaction was a direct exchange for cash tied to a follow-on public offering, not an open-market trade, and involved cancellation of an equal number of Class B shares.

Was the SOLV Energy (MWH) McQuade transaction an open-market sale?

No, the transaction was a disposition to the issuer, not an open-market sale. McQuade exchanged 3,093 Opco LLC Interests for cash in connection with a follow-on offering, with corresponding Class B common shares surrendered and cancelled for no additional consideration.

What price was used for Daniel McQuade’s SOLV Energy (MWH) Opco LLC Interests exchange?

The exchange used a price per Opco LLC Interest equal to the public offering price of $36.00 per share of Class A common stock, net of underwriting discounts and commissions, as specified in the follow-on offering prospectus and related registration statement.

How many SOLV Energy Holdings LLC Interests does McQuade hold after this Form 4?

After the disposition, McQuade holds 33,781 SOLV Energy Holdings LLC Interests directly. This figure reflects his remaining Opco LLC Interests following the exchange of 3,093 units for cash in connection with the company’s follow-on public offering of Class A common stock.

What offering was referenced in Daniel McQuade’s SOLV Energy (MWH) Form 4?

The Form 4 references a public follow-on offering of Class A common stock by the issuer and affiliates of American Securities LLC. The terms are described in a prospectus dated May 28, 2026, and a related registration statement on Form S-1 for SOLV Energy, Inc.