NuScale Power (SMR) director receives 3,946 phantom stock units as deferred fees

Rhea-AI Filing Summary

KRESA KENT reported acquisition or exercise transactions in this Form 4 filing.

NuScale Power Corp director Kent Kresa received a grant of 3,946 phantom stock units on March 31, 2026. Each phantom share represents the right to receive one share of Class A common stock on a one-for-one basis.

The grant was made in lieu of quarterly cash fees under the company’s Deferred Compensation Plan for Non-Employee Directors, reflecting compensation taken in equity rather than cash. Kresa elected to defer settlement of the underlying Class A common shares until separation from service with the company, when the phantom stock becomes payable. Following this grant, he holds 3,946 phantom stock units directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider KRESA KENT

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	3,946	$0.00	--

Holdings After Transaction: Phantom Stock — 3,946 shares (Direct)

Footnotes (1)

1. Each share of phantom stock represents a right to receive one share of Class A Common stock on a one-for-one basis. In lieu of quarterly cash fees, 3,946 shares of phantom stock were granted on March 31, 2026. Pursuant to the Company's Deferred Compensation Plan for Non-Employee Directors, the reporting person elected to defer settlement of the underlying shares of Class A Common Stock. The phantom stock becomes payable upon the reporting person's separation from service with the Company.

Key Figures

Phantom stock granted: 3,946 units Phantom stock holdings after grant: 3,946 units Underlying Class A common stock linkage: 1-for-1

3 metrics

Phantom stock granted 3,946 units Grant on March 31, 2026 in lieu of quarterly cash fees

Phantom stock holdings after grant 3,946 units Total phantom stock units held directly after transaction

Underlying Class A common stock linkage 1-for-1 Each phantom stock unit equals one share of Class A common stock

Key Terms

Phantom Stock, Deferred Compensation Plan for Non-Employee Directors, separation from service

3 terms

Phantom Stock financial

"Each share of phantom stock represents a right to receive one share of Class A Common stock"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Deferred Compensation Plan for Non-Employee Directors financial

"Pursuant to the Company's Deferred Compensation Plan for Non-Employee Directors, the reporting person elected to defer settlement"

separation from service financial

"The phantom stock becomes payable upon the reporting person's separation from service with the Company"

Form 4 Insider Transactions: What Each Field Means →

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^*

KRESA KENT

(Last) (First) (Middle)

1100 NE CIRCLE BLVD.

SUITE 350

(Street)

CORVALLIS OREGON 97330

(City) (State) (Zip)

UNITED STATES

(Country)

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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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)
			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
Phantom Stock	(1)	03/31/2026		A		3,946		(2)	(2)	Class A Common Stock	3,946	$0	3,946	D

Explanation of Responses:

1. Each share of phantom stock represents a right to receive one share of Class A Common stock on a one-for-one basis.

2. In lieu of quarterly cash fees, 3,946 shares of phantom stock were granted on March 31, 2026. Pursuant to the Company's Deferred Compensation Plan for Non-Employee Directors, the reporting person elected to defer settlement of the underlying shares of Class A Common Stock. The phantom stock becomes payable upon the reporting person's separation from service with the Company.

Remarks:

	Patrick C. Cannon, attorney-in-fact for Kent Kresa	04/02/2026
	** 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)

FAQ

What insider transaction did NuScale Power (SMR) report for Kent Kresa?

NuScale Power reported that director Kent Kresa received 3,946 shares of phantom stock on March 31, 2026. This award was granted in lieu of quarterly cash fees and represents deferred equity-based compensation tied to the company’s Class A common stock.

What is the nature of the phantom stock granted to Kent Kresa at NuScale Power (SMR)?

Each phantom stock unit granted to Kent Kresa represents a right to receive one share of Class A common stock. The units mirror the value of NuScale Power’s common shares but are settled later, rather than delivering stock immediately at the grant date.

How many phantom stock units did Kent Kresa receive from NuScale Power (SMR)?

Kent Kresa received 3,946 phantom stock units from NuScale Power. These units were issued on March 31, 2026, in place of a quarterly cash director fee and are linked one-for-one to future delivery of Class A common stock.

When will Kent Kresa’s NuScale Power (SMR) phantom stock become payable?

The phantom stock granted to Kent Kresa becomes payable when he separates from service with NuScale Power. Under the Deferred Compensation Plan, he elected to defer settlement of the underlying Class A common shares until that separation event occurs.

Did Kent Kresa buy or sell NuScale Power (SMR) common stock in this Form 4?

This Form 4 does not show an open-market buy or sell by Kent Kresa. Instead, it reports a grant of 3,946 phantom stock units as compensation, which will later convert into Class A common shares upon his separation from the company.

How many phantom stock units does Kent Kresa hold after this NuScale Power (SMR) transaction?

After this transaction, Kent Kresa holds 3,946 phantom stock units directly. The Form 4 indicates this total as his holdings following the March 31, 2026 grant, reflecting his accumulated phantom stock under the company’s compensation arrangements.