[Form 4] NUSCALE POWER Corp Insider Trading Activity

Rhea-AI Filing Summary

NuScale Power Corp CEO John Lawrence Hopkins reported multiple equity transactions involving Class A common stock and restricted stock units. On March 3, he sold 82,667 shares of Class A common stock at an average price of $12.22 per share, with the filing stating these sales were made to cover tax withholding obligations through a “sell to cover” transaction related to restricted stock unit vesting.

On March 2, he exercised several blocks of restricted stock units that convert into Class A common stock on a one-for-one basis, acquiring corresponding shares of Class A common stock at a stated price of $0.00 per share. On February 28, 2026, he was granted 275,486 restricted stock units, which vest annually in three equal installments beginning on the anniversary of the grant date.

Insights

Equity Compensation Analyst

CEO’s Form 4 shows routine equity vesting, RSU grant, and tax-related share sale.

The transactions for NuScale Power Corp involve standard executive compensation mechanics. John Lawrence Hopkins received a grant of 275,486 restricted stock units on February 28, 2026, vesting in three equal annual installments, and exercised existing RSUs that convert one-for-one into Class A common stock at a stated price of $0.00 per share.

The filing also reports an open-market sale of 82,667 Class A shares at $12.22 per share on March 3, 2026. A footnote explains these shares were sold solely to cover tax withholding obligations from RSU vesting via a “sell to cover” transaction, indicating the sale is tied to tax compliance rather than a discretionary reduction in exposure. Overall, the activity reflects routine equity grant, vesting, and tax settlement rather than a thesis-changing move.

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

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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^*

Hopkins John Lawrence

(Last) (First) (Middle)

1100 NE CIRCLE BLVD., SUITE 350

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/28/2026

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	03/02/2026		M		39,284	A	(1)	39,284	D
Class A Common Stock	03/02/2026		M		104,167	A	(1)	143,451	D
Class A Common Stock	03/02/2026		M		56,234	A	(1)	199,685	D
Class A Common Stock	03/03/2026		S		82,667(2)	D	$12.22	117,018	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	(1)	03/02/2026		M			39,284	(3)	(3)	Class A Common Stock	39,284	$0	0	D
Restricted Stock Unit	(1)	03/02/2026		M			104,167	(4)	(4)	Class A Common Stock	104,167	$0	104,167	D
Restricted Stock Unit	(1)	03/02/2026		M			56,234	(5)	(5)	Class A Common Stock	56,234	$0	112,468	D
Restricted Stock Unit	(1)	02/28/2026		A		275,486		(6)	(6)	Class A Common Stock	275,486	$0	275,486	D

Explanation of Responses:

1. Restricted stock units convert into Class A Common stock on a one-for-one basis.

2. 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.

3. On February 28, 2023, the reporting person was granted 117,854 restricted stock units, vesting annually in three equal installments beginning on the anniversary of the grant date.

4. On February 28, 2024, the reporting person was granted 312,500 restricted stock units, vesting annually in three equal installments beginning on the anniversary of the grant date.

5. On February 28, 2025, the reporting person was granted 168,702 restricted stock units, vesting annually in three equal installments beginning on the anniversary of the grant date.

6. On February 28, 2026, the reporting person was granted 275,486 restricted stock units, vesting annually in three equal installments beginning on the anniversary of the grant date.

Remarks:

	Patrick C. Cannon, attorney-in-fact for John L. Hopkins	03/03/2026
	** Signature of Reporting Person	Date
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