NuScale Power (SMR) CAO receives 54,474 restricted stock units in equity grant

Rhea-AI Filing Summary

NuScale Power Corp reported that Chief Accounting Officer David A. Tonnel received a grant of 54,474 restricted stock units on February 28, 2026. These units were awarded at no cash cost as an equity incentive.

The 54,474 restricted stock units will vest in three equal annual installments, starting on the first anniversary of the grant date. Each unit converts into one share of Class A common stock upon vesting, increasing Tonnel’s direct equity-based stake as the awards vest over time.

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
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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^*

Tonnel David A

(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)

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

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)	02/28/2026		A		54,474		(2)	(2)	Class A Common Stock	54,474	$0	54,474	D

Explanation of Responses:

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

2. On February 28, 2026, the reporting person was granted 54,474 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 David Tonnel	03/03/2026
	** 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.

FAQ

What insider transaction did NuScale Power (SMR) report for David A. Tonnel?

NuScale Power reported that Chief Accounting Officer David A. Tonnel received a grant of 54,474 restricted stock units. These equity awards were granted on February 28, 2026 and represent additional compensation rather than an open-market share purchase.

How many restricted stock units were granted to the NuScale Power (SMR) CAO?

David A. Tonnel was granted 54,474 restricted stock units. According to the filing, all 54,474 units were acquired in a single award and are held directly, forming part of his equity-based compensation package tied to NuScale Power’s Class A common stock.

When do the NuScale Power (SMR) restricted stock units granted to the CAO vest?

The 54,474 restricted stock units vest annually in three equal installments. Vesting begins on the first anniversary of the February 28, 2026 grant date, meaning one-third vests each year over a three-year period, subject to the award terms.

How are NuScale Power (SMR) restricted stock units converted into shares?

Each NuScale Power restricted stock unit converts into one share of Class A common stock. The filing states the conversion is on a one-for-one basis, so 54,474 units represent the right to receive 54,474 Class A shares as they vest.

Did David A. Tonnel buy or sell NuScale Power (SMR) shares in this Form 4?

The Form 4 shows an acquisition through a grant of restricted stock units, not a market purchase or sale. The transaction code indicates a grant or award, so this reflects equity compensation rather than trading activity in NuScale Power shares.

What is David A. Tonnel’s ownership in NuScale Power (SMR) after this RSU grant?

After the reported transaction, David A. Tonnel holds 54,474 restricted stock units directly. These units represent potential future shares of Class A common stock, which will be delivered as the awards vest over the three-year schedule described in the filing.