Fluor Corp trims NuScale Power (SMR) stake with 71M-share sale

Rhea-AI Filing Summary

Fluor Corporation, a major shareholder of NuScale Power, reported a large insider sale of Class A Common Stock. On 02/13/2026, entities associated with Fluor sold 71,000,000 shares at an average price of $19.0498 per share in an open-market transaction.

After this sale, 40,400,219 NuScale Class A shares were reported as beneficially owned indirectly. According to the footnote, 39,936,472 of these shares are held by Fluor Enterprises, Inc., a wholly owned subsidiary of Fluor Corporation, and 463,747 shares are held by NuScale Holdings Corp., which is majority owned by Fluor Enterprises.

Insights

Equity ownership and governance analyst

Fluor-linked entities executed a very large open-market sale but still retain a substantial NuScale stake.

The filing shows entities associated with Fluor Corporation, a director and 10% owner of NuScale Power, completed an open-market sale of 71,000,000 shares of Class A Common Stock at $19.0498 per share on February 13, 2026. The transaction is coded as a sale in the normal course (code S).

Following the sale, 40,400,219 NuScale Class A shares remain beneficially owned indirectly. The footnote attributes 39,936,472 shares to Fluor Enterprises, Inc., a wholly owned Fluor subsidiary, and 463,747 shares to NuScale Holdings Corp., which is majority owned by Fluor Enterprises. The overall significance depends on NuScale’s total share count and future ownership changes, which are not detailed in this excerpt.

Insider Trade Summary

Net Seller: 71,000,000 shares ($1,352,535,800)

Net Sell 1 txn

Insider FLUOR CORP

Role Director, 10% Owner

Sold 71,000,000 shs ($1.35B)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	71,000,000	$19.0498	$1.35B

Holdings After Transaction: Class A Common Stock — 40,400,219 shares (Indirect, See footnote)

Footnotes (1)

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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^*

FLUOR CORP

(Last) (First) (Middle)

6700 LAS COLINAS BLVD.

(Street)

IRVING TX 75039

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

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

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	02/13/2026		S		71,000,000	D	$19.0498	40,400,219	I	See footnote(1)

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. 39,936,472 shares of Class A Common Stock are beneficially owned by Fluor Enterprises, Inc., which is a wholly owned subsidiary of Fluor Corporation, whose principal place of business is 6700 Las Colinas Boulevard, Irving, Texas 75039. 463,747 shares of Class A Common Stock are beneficially by NuScale Holdings Corp., which is majority owned by Fluor Enterprises, Inc.

Remarks:

	/s/ Kevin B. Hammonds, Chief Legal Officer and Corporate Secretary	02/17/2026
	** 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 Fluor Corp report in NuScale Power (SMR)?

Fluor-linked entities reported an open-market sale of 71,000,000 NuScale Power Class A shares at $19.0498 per share. The sale occurred on February 13, 2026, and was reported on a Form 4 as a standard open-market or private transaction (code S).

How many NuScale Power (SMR) shares does Fluor Corp report owning after the sale?

After the reported sale, Fluor Corp reports beneficial ownership of 40,400,219 NuScale Class A shares on an indirect basis. The filing explains that these shares are held through subsidiaries Fluor Enterprises, Inc. and NuScale Holdings Corp., rather than directly by Fluor Corporation itself.

At what price were the NuScale Power (SMR) shares sold by Fluor-related entities?

The 71,000,000 NuScale Power Class A shares were sold at an average price of $19.0498 per share. This price is disclosed in the Form 4’s transaction table, which classifies the trade as an open-market or private sale under transaction code S.

Who actually holds the NuScale Power (SMR) shares reported by Fluor Corp?

According to the footnote, 39,936,472 NuScale Class A shares are held by Fluor Enterprises, Inc., a wholly owned Fluor subsidiary. Another 463,747 shares are held by NuScale Holdings Corp., which is majority owned by Fluor Enterprises, giving Fluor indirect beneficial ownership of these positions.

What is Fluor Corp’s relationship to NuScale Power (SMR) according to this filing?

Fluor Corp is identified as both a director and a 10% owner of NuScale Power. The Form 4 shows Fluor in an insider role, with beneficial ownership of NuScale shares held indirectly through Fluor Enterprises, Inc. and NuScale Holdings Corp., as described in the footnote.