NuScale Power (SMR) director receives 8,681 RSUs with deferred payout

Rhea-AI Filing Summary

NuScale Power Corp director Diana J. Walters received an award of 8,681 restricted stock units of Class A Common Stock as compensation. These RSUs were granted at no cash cost and increase her reported direct holdings to 20,976 shares.

The award vests quarterly in four equal installments over one year, starting on August 29, 2026. Walters elected under NuScale’s Deferred Compensation Plan for Non-Employee Directors to defer delivery of the underlying shares and instead receive an equal number of phantom stock units, which convert into Class A Common Stock when she separates from service.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider WALTERS DIANA J

Role null

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	8,681	$0.00	--

Holdings After Transaction: Class A Common Stock — 20,976 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

RSU grant size: 8,681 units Post-transaction holdings: 20,976 shares Grant price: $0.00 per share +1 more

4 metrics

RSU grant size 8,681 units Restricted stock units awarded on May 29, 2026

Post-transaction holdings 20,976 shares Class A Common Stock held after grant

Grant price $0.00 per share Compensation award, not open-market purchase

Vesting schedule 4 quarterly installments Over one year starting August 29, 2026

Key Terms

restricted stock units, Deferred Compensation Plan for Non-Employee Directors, phantom stock, separation from service

4 terms

restricted stock units financial

"The reporting person received an award of 8,681 restricted stock units on May 29, 2026"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Deferred Compensation Plan for Non-Employee Directors financial

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

phantom stock financial

"will instead receive an equal number of shares of phantom stock. Each share of phantom stock represents the right"

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.

separation from service financial

"phantom stock represents the right to receive one share of Class A Common Stock upon the reporting person's separation from service"

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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^*

WALTERS DIANA J

(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)
05/29/2026

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
Class A Common Stock	05/29/2026		A		8,681(1)	A	$0	20,976	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. The reporting person received an award of 8,681 restricted stock units on May 29, 2026, which vest quarterly in four equal installments over one year, with the first such vesting event occurring on August 29, 2026. Each restricted stock unit represents the right to receive one share of Class A Common Stock upon vesting. Pursuant to the issuer's Deferred Compensation Plan for Non-Employee Directors, the reporting person elected to defer receipt of the underlying shares of Class A Common Stock upon vesting of the restricted stock units and will instead receive an equal number of shares of phantom stock. Each share of phantom stock represents the right to receive one share of Class A Common Stock upon the reporting person's separation from service with the issuer.

Remarks:

	Patrick C. Cannon, attorney-in-fact for Diana J. Walters	06/02/2026
	** 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 Diana J. Walters?

NuScale Power reported that director Diana J. Walters received 8,681 restricted stock units of Class A Common Stock as a compensation award. The grant was recorded at no cash cost and is structured to vest in four equal quarterly installments over one year.

How many NuScale Power (SMR) shares does Diana J. Walters hold after this Form 4?

After the reported award, Diana J. Walters is shown holding 20,976 shares of NuScale Power Class A Common Stock. This figure reflects her direct ownership position reported in the Form 4 following the grant of 8,681 restricted stock units on May 29, 2026.

How do the 8,681 restricted stock units for NuScale Power (SMR) vest?

The 8,681 restricted stock units vest quarterly in four equal installments over one year. The first vesting date is August 29, 2026, with each vested unit representing the right to receive one share of NuScale Power Class A Common Stock upon vesting.

What deferral election did Diana J. Walters make for her NuScale (SMR) RSUs?

Under NuScale’s Deferred Compensation Plan for Non-Employee Directors, Diana J. Walters elected to defer receipt of shares underlying the RSUs. Instead, she will receive an equal number of phantom stock units, which will convert into Class A Common Stock upon her separation from service.

What is phantom stock in the NuScale Power (SMR) director compensation context?

In this context, phantom stock represents bookkeeping units mirroring NuScale Power Class A Common Stock. Each phantom stock unit entitles the holder to receive one share of Class A Common Stock, but only when the director separates from service, aligning compensation with long-term company performance.

Was the NuScale Power (SMR) transaction an open-market buy or sale?

The transaction was not an open-market trade. It was a compensation-related grant of 8,681 restricted stock units to director Diana J. Walters, recorded at a price of $0.00 per share, rather than a discretionary purchase or sale in the market.