Form 4: Fluor Divests NuScale Power Indirect Holdings

Fluor Corporation, a 10% owner and director of NuScale Power, reported the sale of 908,761 shares of Class A Common Stock in early October 2025.

Summary

• Fluor Corporation, through its wholly-owned subsidiary Fluor Enterprises, Inc., reported the sale of 908,761 shares of NuScale Power Corp Class A Common Stock.
• The sales occurred over two days, October 7 and October 8, 2025.
• Transactions were executed at weighted average prices ranging from $39.42 to $43.13 per share.
• The total value of shares sold is approximately $36.87 million.
• Following these transactions, Fluor Enterprises, Inc. no longer holds any indirect beneficial ownership in NuScale Power Corp.
• Fluor Corporation remains a Director and 10% Owner of NuScale Power Corp, but its indirect holdings through Fluor Enterprises, Inc. have been fully divested.

Sentiment

Score: 3

Explanation: The filing reports significant insider selling by a major shareholder and director, which typically indicates a negative outlook or strategic divestment, leading to a low sentiment score.

Negatives

• Fluor Corporation, a significant insider (Director and 10% Owner), sold a substantial portion of its holdings in NuScale Power Corp, totaling 908,761 shares of Class A Common Stock.
• The indirect beneficial ownership of NuScale Power Corp shares by Fluor Enterprises, Inc., a Fluor subsidiary, has been reduced to zero, indicating a complete divestment of these indirect holdings.

Risks

• Significant insider selling by a major shareholder and director could signal a lack of confidence in NuScale Power Corp's future prospects or a strategic shift by Fluor Corporation.
• The complete divestment of indirect holdings by Fluor's subsidiary might be interpreted negatively by the market, potentially impacting investor sentiment and stock price.

Future Outlook

No forward-looking statements or guidance regarding NuScale Power Corp's future performance or strategic direction were provided in this filing.

Industry Context

Insider selling by a major shareholder and director can be interpreted by the market as a signal of reduced confidence in the company's future prospects or a strategic reallocation of capital by the selling entity. This type of transaction is closely watched by investors as it can influence market sentiment.

Related Party Transactions

• The sale of Class A Common Stock by Fluor Corporation, a Director and 10% Owner of NuScale Power Corp, constitutes a related party transaction.

Stakeholder Impact

• Shareholders may react negatively to the significant insider selling, potentially leading to downward pressure on NuScale Power Corp's stock price.
• The complete divestment of indirect holdings by a major strategic investor like Fluor Corporation could raise questions about long-term partnership implications.

Key Dates

Recommendation

The substantial sale of 908,761 shares by Fluor Corporation, a 10% owner and director of NuScale Power Corp, and the complete divestment of its indirect holdings through a subsidiary, signals a significant reduction in its investment and potentially a lack of confidence in NuScale's future. Such insider selling by a major stakeholder is typically viewed as a strong negative indicator for the stock, warranting a 'sell' recommendation for investors.

Keywords

NuScale Power, SMR, Fluor Corporation, Insider Selling, Form 4, Beneficial Ownership, Stock Sale, Director, 10% Owner