Form 4: Fluor Divests Over 2.5M NuScale Power Shares

Fluor Corp, a director and 10% owner of NuScale Power Corp, reported multiple sales of Class A Common Stock totaling over 2.5 million shares in early October 2025.

Summary

• Fluor Corp, a 10% owner and director of NuScale Power Corp (SMR), reported significant sales of Class A Common Stock.
• Transactions occurred on October 2, 3, and 6, 2025.
• A total of 2,515,517 shares were sold across nine separate transactions.
• Sale prices ranged from $36.98 to $43.96 per share, with weighted average prices between $37.45 and $43.62.
• Following these transactions, Fluor Corp's indirect beneficial ownership in NuScale Power Corp decreased to 908,761 Class A Common Stock shares.
• The shares are owned of record by Fluor Enterprises, Inc., a wholly-owned subsidiary of Fluor Corporation.

Sentiment

Score: 4

Explanation: While Fluor benefits from monetizing its investment, the substantial reduction in a major strategic investor's stake is generally perceived negatively for the issuer (NuScale Power Corp), potentially signaling a lack of long-term confidence or a strategic pivot by the selling entity.

Positives

• Fluor Corp monetized a significant portion of its investment in NuScale Power Corp, generating substantial proceeds.
• The sales occurred at increasing weighted average prices, from $37.45 to $43.62, indicating favorable market conditions during the sale period for Fluor.

Negatives

• Fluor Corp, a significant shareholder and director, substantially reduced its stake in NuScale Power Corp, which could be interpreted as a lack of confidence or a strategic shift away from the investment.
• The reduction in Fluor's ownership from an initial 3,424,278 shares to approximately 908,761 shares represents a significant divestment for NuScale Power Corp.

Future Outlook

NA

Industry Context

The divestment by Fluor Corp, a key early investor and strategic partner in NuScale's small modular reactor (SMR) technology, could be viewed in the context of the evolving nuclear energy sector. While SMRs are gaining traction, a major shareholder reducing its stake might prompt questions about long-term commitment or valuation, especially as NuScale navigates commercialization and project development.

Related Party Transactions

• Fluor Corp, a 10% owner and director of NuScale Power Corp, engaged in multiple sales of NuScale Class A Common Stock.
• The shares are indirectly owned of record by Fluor Enterprises, Inc., a wholly-owned subsidiary of Fluor Corporation.

Stakeholder Impact

• Shareholders (NuScale): Potential negative sentiment due to a major investor reducing its stake, possibly leading to downward pressure on stock price.
• Fluor Corp: Increased liquidity and capital for other investments or corporate purposes.

Key Dates

Recommendation

The substantial divestment by Fluor Corp, a 10% owner and director, signals a potential shift in strategic alignment or confidence. While the sales occurred at favorable prices for Fluor, the reduction in a major investor's stake could create uncertainty for NuScale Power Corp's future outlook, warranting a cautious 'hold' position for existing investors to monitor subsequent developments.

Keywords

Fluor Corp, NuScale Power, SMR, stock sale, insider trading, Form 4, beneficial ownership, divestment