[Form 4] NV5 Global, Inc. Insider Trading Activity

Rhea-AI Filing Summary

NV5 Global, Inc. (NVEE) – Form 4 insider transaction

CEO Benjamin Heraud filed a Form 4 reporting the disposition of his entire direct holding of 171,154 NVEE common shares on 08/04/2025. The shares were automatically converted under the 14-May-2025 Merger Agreement, entitling the holder to 1.1523 Acuren Corporation shares plus $10.00 in cash for each NVEE share. All unvested restricted stock vested immediately prior to the merger and was included in the conversion. After the transaction, the filing shows 0 NVEE shares remaining in the reporting person’s ownership.

The disclosure confirms the share-for-cash conversion mechanics tied to the closing of the NV5-Acuren merger and removes the CEO’s equity exposure to NVEE, replacing it with Acuren equity and cash.

Positive

• Merger consideration confirmed: each NVEE share converted into 1.1523 Acuren shares plus $10 cash, delivering cash liquidity and ongoing ownership in the combined company.

Negative

• Insider ownership in NVEE reduced to zero following conversion, eliminating direct alignment with the legacy company.

Insights

M&A Analyst

TL;DR: Form 4 confirms NV5-Acuren merger close; CEO’s 171,154 shares converted to cash+Acuren stock—informational, not valuation-moving.

The filing is a procedural disclosure showing that the previously announced merger consummated on 08/04/2025. Each NVEE share was exchanged for 1.1523 Acuren shares and $10 cash, consistent with the May 14 agreement. No incremental terms, premium, or revised consideration are introduced, so market impact should be limited to confirmation that closing conditions were satisfied. Rating reflects informational—but not fundamentally new—content.

Corporate Governance Specialist

TL;DR: CEO now owns zero NVEE shares post-conversion; governance effect neutral as equity shifts to new parent.

Benjamin Heraud’s entire NVEE stake was eliminated through merger conversion, aligning his holdings with Acuren instead of the now-acquired entity. Immediate vesting of restricted stock is standard under change-of-control clauses and does not indicate unusual compensation. The absence of remaining NVEE shares is expected because the ticker will be removed once the merger is fully settled. No governance red flags appear.

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

X

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^*

Heraud Benjamin

(Last) (First) (Middle)

200 SOUTH PARK RD.

SUITE 350

(Street)

HOLLYWOOD FL 33021

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NV5 Global, Inc. [ NVEE ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/04/2025		D		171,154	D	(1)	0	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Pursuant to the Agreement and Plan of Merger, dated as of May 14, 2025 (the "Merger Agreement"), by and among NV5 Global, Inc. (the "Company"), Acuren Corporation ("Acuren"), Ryder Merger Sub I, Inc. and Ryder Merger Sub II, Inc., each outstanding share of common stock of the Issuer was converted into the right to receive 1.1523 shares of Acuren common stock per share and $10.00 in cash per share (together, the "Merger Consideration"). In addition, pursuant to the Merger Agreement, any outstanding restricted stock award of NV5 held by the Reporting Person automatically vested in full in accordance with its terms immediately prior to the effective time of the mergers and converted into the right to receive the Merger Consideration, less applicable tax withholdings.

	/s/ MaryJo OBrien, as attorney in fact	08/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

How many NV5 Global (NVEE) shares did CEO Benjamin Heraud dispose of?

He disposed of 171,154 common shares on 08/04/2025.

What did each NVEE share receive in the Acuren merger?

Each share was exchanged for 1.1523 Acuren shares and $10.00 in cash.

Does the CEO still hold any NVEE stock after this filing?

No. The Form 4 lists 0 NVEE shares owned directly or indirectly post-transaction.

Why did the restricted stock awards vest immediately before the merger?

The Merger Agreement required automatic full vesting of outstanding restricted stock prior to conversion into the merger consideration.

What does transaction code "D" signify in this Form 4?

"D" indicates a disposition of shares—in this case, conversion and cancellation as part of the merger.