NuScale Power (SMR) director granted 3,470 phantom stock units in lieu of cash fees

Rhea-AI Filing Summary

BOECKMANN ALAN L reported acquisition or exercise transactions in this Form 4 filing.

NuScale Power Corp director Alan L. Boeckmann received a grant of 3,470 shares of phantom stock as compensation. Each phantom stock unit represents the right to receive one share of Class A common stock on a one-for-one basis.

The grant was issued on March 31, 2026 in lieu of quarterly cash fees under the company’s Deferred Compensation Plan for Non-Employee Directors. Boeckmann elected to defer settlement, so the underlying Class A shares become payable only when he separates from service with the company. Following this award, he holds 3,470 phantom stock units directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider BOECKMANN ALAN L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	3,470	$0.00	--

Holdings After Transaction: Phantom Stock — 3,470 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, 3,470 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 grant: 3,470 units Price per phantom unit: $0.0000 per unit Phantom units after grant: 3,470 units +1 more

4 metrics

Phantom stock grant 3,470 units Granted March 31, 2026 in lieu of quarterly cash fees

Price per phantom unit $0.0000 per unit Stated transaction price for the compensation grant

Phantom units after grant 3,470 units Total phantom stock held following this transaction

Underlying Class A shares 3,470 shares One Class A share for each phantom stock unit

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^*

BOECKMANN ALAN L

(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		3,470		(2)	(2)	Class A Common Stock	3,470	$0	3,470	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, 3,470 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 Alan L. Boeckmann	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 did NuScale Power (SMR) director Alan L. Boeckmann report on this Form 4?

Alan L. Boeckmann reported receiving 3,470 shares of phantom stock on March 31, 2026. This grant was made in lieu of his quarterly cash director fees and represents a compensation-related acquisition, not an open-market stock purchase or sale.

How many phantom stock units did the NuScale Power (SMR) director receive?

He received 3,470 phantom stock units tied to NuScale Power’s Class A common stock. Each unit tracks one underlying share on a one-for-one basis, and this grant brought his total phantom stock holdings reported in this filing to 3,470 units.

What does the phantom stock grant mean for NuScale Power (SMR) director compensation?

The filing shows that Boeckmann’s quarterly director fees were paid as 3,470 phantom stock units instead of cash. This structure aligns director compensation with NuScale Power’s share performance while deferring actual share delivery until his separation from service.

When will the NuScale Power (SMR) phantom stock units become payable?

According to the filing, the phantom stock becomes payable upon Boeckmann’s separation from service with NuScale Power. At that point, each phantom unit entitles him to receive one share of Class A common stock, consistent with the plan’s deferred compensation terms.

Is the NuScale Power (SMR) Form 4 a market purchase or sale of shares?

No, this Form 4 reflects a grant of 3,470 phantom stock units as director compensation, not a market transaction. The units were granted at a stated price of $0.00 per unit and represent deferred rights to receive Class A common stock in the future.