Form 4: NuScale COO Sells Shares for Tax Obligations

NuScale Power's Chief Operating Officer, Carl M. Fisher, sold 18,206 shares of Class A Common Stock to cover tax withholding obligations following the vesting of restricted stock units.

Summary

• Carl M. Fisher, NuScale Power's Chief Operating Officer, acquired 42,625 shares of Class A Common Stock on August 4, 2025, through the vesting of restricted stock units at a price of $0.
• On August 5, 2025, Fisher sold 18,206 shares of Class A Common Stock at $44.386 per share.
• The sale was a "sell to cover" transaction, specifically to satisfy tax withholding obligations related to the RSU vesting.
• Following these transactions, Fisher beneficially owns 90,864 shares of Class A Common Stock and 42,625 restricted stock units.
• The restricted stock units originated from a grant of 127,875 units on August 4, 2023, vesting in three equal installments annually.

Sentiment

Score: 6

Explanation: The filing reports a routine executive compensation event (RSU vesting) followed by a non-discretionary 'sell to cover' transaction for tax purposes. This is a neutral event, slightly positive due to vesting, but not indicative of strong positive or negative sentiment regarding the company's prospects.

Positives

• Vesting of 42,625 restricted stock units indicates a milestone in the compensation structure for the Chief Operating Officer.
• The transaction is a routine "sell to cover" for tax obligations, not a discretionary sale indicating a lack of confidence.

Negatives

• The sale of 18,206 shares, while for tax purposes, reduces the direct equity holdings of a key executive.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Minor dilution from RSU vesting, but the 'sell to cover' is a routine event and not a signal of executive divestment.
• Employees: Reflects standard executive compensation practices, potentially boosting morale by demonstrating executive benefits.

Next Steps

• Future vesting installments of the remaining restricted stock units granted on August 4, 2023, will occur annually.

Key Dates

Recommendation

The filing details a routine 'sell to cover' transaction by a key executive to satisfy tax obligations upon RSU vesting. This is a non-discretionary sale and does not reflect a change in the executive's confidence in the company's future. As such, it provides no new fundamental information to warrant a change in investment recommendation. Investors should continue to hold based on broader company fundamentals and market conditions.

Keywords

NuScale Power, SMR, Carl M. Fisher, COO, SEC Form 4, Insider Trading, Stock Sale, Restricted Stock Units, RSU Vesting, Tax Withholding, Executive Compensation