Fluor Corp (NYSE: SMR) affiliate sells 13.5M NuScale shares, position to zero

Rhea-AI Filing Summary

NuScale Power Corp director-affiliated entity sells large stake

An entity associated with Fluor Corporation completed an open-market sale of 13,500,000 shares of NuScale Power Class A common stock at an average price of $11.8092 per share. The shares were beneficially owned by Fluor Enterprises, Inc., a wholly owned subsidiary of Fluor Corporation, and this transaction reduced the reported holdings for this account to zero shares. The sale was made pursuant to a previously disclosed agreement, indicating the disposition was pre-arranged rather than opportunistic.

Positive

• None.

Negative

• Fluor-affiliated entity fully exits reported NuScale position: Fluor Enterprises, Inc., a wholly owned subsidiary of Fluor Corporation, sold 13,500,000 Class A shares in an open-market transaction, reducing this reported holding to zero, which removes a large director-associated shareholder from the NuScale register.

Insights

Equity ownership & governance analyst

Subsidiary of Fluor fully exits its reported NuScale stake in a pre-arranged sale.

The filing shows an entity affiliated with Fluor Corporation executed an open-market sale of 13,500,000 NuScale Class A shares at $11.8092 each. Following the transaction, this reporting position holds no remaining shares, marking a complete disposition from this account.

The shares were beneficially owned by Fluor Enterprises, Inc., a wholly owned subsidiary of Fluor Corporation. A footnote states the sale was made pursuant to a previously disclosed agreement, suggesting the timing stems from that agreement rather than a new discretionary decision. The filing does not list any remaining derivative positions, indicating no options or similar instruments are reported here.

Insider Trade Summary

Net Seller: 13,500,000 shares ($159,424,200)

Net Sell 1 txn

Insider FLUOR CORP

Role null

Sold 13,500,000 shs ($159.42M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	13,500,000	$11.8092	$159.42M

Holdings After Transaction: Class A Common Stock — 0 shares (Indirect, See footnote)

Footnotes (1)

1. Sale was made pursuant to a previously disclosed agreement. The shares of Class A Common Stock subject to the transaction reported on this Form 4 were beneficially owned by Fluor Enterprises, Inc., which is a wholly owned subsidiary of Fluor Corporation, whose principal place of business is 6700 Las Colinas Blvd, Irving, Texas 75039.

Key Figures

Shares sold: 13,500,000 shares Average sale price: $11.8092 per share Shares after transaction: 0 shares +1 more

4 metrics

Shares sold 13,500,000 shares Class A Common Stock open-market sale

Average sale price $11.8092 per share Price for the 13,500,000-share sale

Shares after transaction 0 shares Total shares following the reported sale

Sell transactions 1 transaction Single reported open-market sale event

Key Terms

open-market sale, beneficially owned, wholly owned subsidiary, previously disclosed agreement

4 terms

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

beneficially owned financial

"The shares ... were beneficially owned by Fluor Enterprises, Inc."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

wholly owned subsidiary financial

"which is a wholly owned subsidiary of Fluor Corporation"

A wholly owned subsidiary is a company whose entire ownership is held by another company (the parent), so the parent controls decisions, operations, and finances. Think of it as a fully controlled branch that runs as its own legal entity but whose results flow straight into the parent’s financial statements; investors watch these structures because they affect consolidated revenue, risk exposure, and how profits, liabilities, and cash flow are allocated across the corporate group.

previously disclosed agreement regulatory

"Sale was made pursuant to a previously disclosed agreement."

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 TEXAS 75039

(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)
04/21/2026

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	04/21/2026		S(1)		13,500,000	D	$11.8092	0	I	See footnote(2)

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. Sale was made pursuant to a previously disclosed agreement.

2. The shares of Class A Common Stock subject to the transaction reported on this Form 4 were beneficially owned by Fluor Enterprises, Inc., which is a wholly owned subsidiary of Fluor Corporation, whose principal place of business is 6700 Las Colinas Blvd, Irving, Texas 75039.

Remarks:

	/s/ Kevin B. Hammonds, Chief Legal Officer and Corporate Secretary	04/23/2026
	** 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 Fluor Corporation’s affiliated entity do with its NuScale (SMR) shares?

An entity affiliated with Fluor Corporation sold 13,500,000 NuScale Class A shares in an open-market transaction at an average price of $11.8092. After this sale, the reporting position shows zero shares remaining in this account.

Who actually owned the NuScale (SMR) shares reported in this Form 4?

The shares were beneficially owned by Fluor Enterprises, Inc., a wholly owned subsidiary of Fluor Corporation. Fluor Enterprises, Inc. held the Class A common stock that was sold, rather than Fluor Corporation holding the shares directly.

Was the Fluor-related sale of NuScale (SMR) shares pre-planned?

Yes. A footnote states the sale was made pursuant to a previously disclosed agreement. This indicates the large disposition followed an existing arrangement, rather than being a newly timed, discretionary trade by the affiliated entity.

How many NuScale (SMR) shares were sold and at what price?

The Form 4 reports an open-market sale of 13,500,000 shares of NuScale Class A common stock. The average sale price was $11.8092 per share, based on the transactions disclosed for the reporting entity’s position.

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

Fluor Corporation appears as a director of NuScale Power Corp in the filing and is the parent of Fluor Enterprises, Inc.. Fluor Enterprises, Inc. beneficially owned the NuScale shares that were sold in the reported transaction.

Does the reporting Fluor-affiliated entity still hold any NuScale (SMR) stock?

No. After selling 13,500,000 shares, the Form 4 shows total shares following the transaction were zero for this reporting position, indicating a complete exit from this account’s NuScale Class A holdings.