Form 4: NuScale COO Sells Shares Under 10b5-1 Plan

NuScale Power Corp's Chief Operating Officer, Carl M. Fisher, sold 49,277 shares of Class A Common Stock for $12.64 per share.

Summary

• Carl M. Fisher, Chief Operating Officer of NUSCALE POWER Corp (SMR), disposed of 49,277 shares of Class A Common Stock.
• The shares were sold in two transactions on March 4, 2026, at a price of $12.64 per share.
• The sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Fisher on August 12, 2025.
• Following these transactions, Mr. Fisher beneficially owns 90,864 shares of Class A Common Stock directly.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a routine insider transaction under a pre-arranged plan, which typically has a neutral to slightly negative sentiment as it represents a reduction in insider ownership, though the 10b5-1 plan mitigates immediate negative implications.

Negatives

• The sale represents a reduction in direct beneficial ownership by a key executive, which can sometimes be interpreted as a lack of confidence, although mitigated by the 10b5-1 plan.

Industry Context

StockSavvy.ai notes that insider sales, even when conducted under a pre-arranged 10b5-1 trading plan, are routinely monitored by investors for potential signals regarding management's perception of future stock performance. While 10b5-1 plans are designed to avoid accusations of trading on material non-public information, a significant sale by a high-ranking executive like a COO can still draw attention in the small modular reactor (SMR) industry, which is closely watched for development milestones and regulatory approvals.

Stakeholder Impact

• Shareholders may interpret the sale as a signal, potentially leading to increased scrutiny of the company's near-term prospects, despite the pre-planned nature of the transaction.

Key Dates

Recommendation

The sale by a key executive, while substantial, was executed under a pre-arranged 10b5-1 trading plan, suggesting it is a planned liquidity event rather than a reaction to new negative information. Investors should monitor future insider activity and company performance for further signals, but this single transaction does not warrant a change in investment thesis at this time.

Keywords

NuScale Power, SMR, Carl Fisher, Insider Sale, Form 4, 10b5-1 Plan, Stock Transaction, Chief Operating Officer