[Form 4] NuScale Power Corporation Insider Trading Activity

Rhea-AI Filing Summary

Robert Ramsey Hamady, Chief Financial Officer of NuScale Power Corporation (SMR), received and settled restricted stock units. On 08/26/2025 he had 76,923 restricted stock units vest and be settled into Class A common stock, increasing his beneficial ownership to 76,924 shares. On 08/27/2025 he sold 30,641 shares at $35.585 per share to satisfy tax withholding obligations from the RSU settlement. The transactions were disclosed on a Form 4 filed 08/28/2025.

Positive

• CFO received vested equity (76,923 RSUs settled into Class A common stock), indicating compensation alignment with shareholders
• Transparent disclosure of the vesting and "sell-to-cover" transaction on a filed Form 4

Negative

• Partial sale of shares (30,641 at $35.585) reduced the CFO's direct holdings to 46,283 shares
• Sell-to-cover indicates immediate dilution of insider-held shares available for future alignment

Insights

Financial Analyst

TL;DR: Routine executive equity vesting with a standard "sell-to-cover" tax sale; minimal immediate market impact.

The filing shows the CFO had 76,923 restricted stock units vest and be settled into the same number of Class A shares, followed by a sale of 30,641 shares at $35.585 to cover tax withholding. This is a common post-vesting liquidity action rather than an active strategic sale and leaves the reporting person with 46,283 shares directly beneficially owned. There is no indication of additional derivative positions or unusual timing that would suggest material signal to investors.

Corporate Governance Expert

TL;DR: Disclosure is complete and follows standard Rule 16 reporting practices; no governance concerns indicated.

The Form 4 documents vesting of RSUs granted in 2023 and a contemporaneous sale to satisfy tax obligations, disclosed by an attorney-in-fact signature. The explanation states the sale was solely for tax withholding. The pattern aligns with common executive compensation administration and does not evidence unexpected insider disposition or governance irregularities based on the information provided.

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

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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^*

Hamady Robert Ramsey

(Last) (First) (Middle)

1100 NE CIRCLE BLVD.

SUITE 200

(Street)

CORVALLIS OR 97330

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NUSCALE POWER Corp [ SMR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/26/2025

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
Class A Common Stock	08/26/2025		M		76,923	A	$0	76,924	D
Class A Common Stock	08/27/2025		S		30,641(1)	D	$35.585	46,283	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
Restricted Stock Unit	(2)	08/26/2025		M			76,923	(3)	(3)	Class A Common Stock	76,923	$0	76,923	D

Explanation of Responses:

1. The sales reported on this Form 4 represent shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units. The sales were to satisfy tax withholding obligations to be funded by a "sell to cover" transaction.

2. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

3. On August 26, 2023, the reporting person was granted 230,769 restricted stock units to vest annually in three installments beginning on August 26, 2024.

Remarks:

	Patrick C Cannon, attorney-in-fact for Robert Ramsey Hamady	08/28/2025
	** 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.
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FAQ

What did NuScale Power (SMR) CFO Robert Ramsey Hamady report on Form 4?

The filing reports settlement of 76,923 restricted stock units into Class A shares on 08/26/2025 and a sale of 30,641 shares on 08/27/2025 at $35.585 per share to cover taxes.

Why were shares sold after the RSU settlement?

The reporting person sold shares in a sell-to-cover transaction to satisfy tax withholding obligations arising from the RSU vesting.

How many NuScale shares does the CFO beneficially own after these transactions?

Following the transactions the CFO beneficially owned 46,283 shares of Class A common stock.

When were the RSUs originally granted?

The explanation states the RSUs were granted on August 26, 2023 (230,769 RSUs) and vested annually beginning August 26, 2024; the reported settlement occurred on 08/26/2025.

Does the Form 4 show any derivative positions or additional option activity?

No. Table II lists only the settled restricted stock units converting to Class A shares; there are no outstanding derivative securities reported.