Form 4: NuScale CFO Sells Shares for Tax Obligations

NuScale Power's CFO, Robert Ramsey Hamady, sold 30,641 shares of Class A Common Stock to cover tax withholding obligations following the vesting of restricted stock units.

Summary

• NuScale Power Corp's Chief Financial Officer, Robert Ramsey Hamady, acquired 76,923 shares of Class A Common Stock on August 26, 2025, through the vesting of Restricted Stock Units (RSUs).
• On August 27, 2025, Mr. Hamady disposed of 30,641 shares of Class A Common Stock at a price of $35.585 per share.
• The sale was executed as a 'sell to cover' transaction to satisfy tax withholding obligations associated with the RSU vesting.
• Following these transactions, Mr. Hamady directly beneficially owns 46,283 shares of Class A Common Stock.
• The vested RSUs are part of an original grant of 230,769 units on August 26, 2023, which are scheduled to vest annually in three installments, commencing on August 26, 2024.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction where the CFO sold shares to cover tax obligations from RSU vesting, which is a common and expected event, not indicating any specific positive or negative sentiment about the company's performance.

Positives

• The vesting of 76,923 restricted stock units indicates the ongoing compensation and retention of a key executive, the Chief Financial Officer.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The sales reported on this Form 4 represent shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units.
• The sales were to satisfy tax withholding obligations to be funded by a 'sell to cover' transaction.

Industry Context

This transaction is a routine insider filing, common across all industries, where executives sell a portion of their vested equity awards to cover tax liabilities. It does not reflect specific industry trends but rather standard executive compensation and tax management practices.

Comparison to Industry Standards

• The 'sell to cover' transaction for tax withholding obligations upon RSU vesting is a standard practice for executives across all industries, including technology and energy sectors. Companies like Microsoft, Apple, and Google frequently see similar Form 4 filings from their executives when equity awards vest.
• This type of transaction does not typically reflect a change in the executive's confidence in the company, but rather a mechanism to manage personal tax liabilities associated with compensation.

Stakeholder Impact

• Shareholders: The sale represents a minor disposition of shares by a key executive, which is a common practice for tax purposes and generally not viewed as a negative signal regarding the company's prospects.
• Employees: The RSU vesting and subsequent tax-related sale demonstrate the company's ongoing equity compensation practices for its executives.

Key Dates

Recommendation

This Form 4 filing details a routine 'sell to cover' transaction by the CFO to satisfy tax obligations upon RSU vesting. Such transactions are common and do not typically reflect a change in management's outlook on the company's fundamentals or future prospects. Therefore, it does not provide new information that would warrant a change from a 'hold' recommendation based solely on this filing.

Keywords

NuScale Power, SMR, Form 4, Insider Trading, CFO, Stock Sale, Restricted Stock Units, RSU Vesting, Tax Withholding