Form 4: NuScale CTO Reyes Sells Shares for Tax Obligations

NuScale Power Corp's Chief Technology Officer, Jose N. Reyes Jr., sold 25,951 shares of Class A Common Stock to cover tax withholding obligations following the vesting of restricted stock units.

Summary

• Jose N. Reyes Jr., Chief Technology Officer of NuScale Power Corp. (SMR), reported transactions involving Class A Common Stock.
• On March 2, 2026, Reyes acquired a total of 73,402 shares (26,640 + 31,250 + 15,512) of Class A Common Stock through the conversion of Restricted Stock Units (RSUs).
• These acquisitions were made indirectly through the Jose N. Reyes, Jr. Trust, dated August 2, 2021.
• Simultaneously, Reyes disposed of 25,951 shares of Class A Common Stock at a price of $12.22 per share.
• This sale was explicitly stated as a "sell to cover" transaction to satisfy tax withholding obligations related to the vesting and settlement of RSUs.
• Following these transactions, Reyes beneficially owns 268,081 shares indirectly through the trust.
• Additionally, on February 28, 2026, Reyes was granted 89,494 new Restricted Stock Units.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive event, reflecting ongoing executive compensation and retention through RSU grants, with the associated share sale being a standard tax-related transaction rather than a discretionary divestment.

Positives

• The Chief Technology Officer received significant grants of Restricted Stock Units (RSUs) on February 28, 2026, totaling 89,494 units, indicating continued compensation and retention of key management.
• The vesting of 73,402 RSUs into Class A Common Stock demonstrates the company's compensation plan is progressing as scheduled.

Negatives

• The sale of 25,951 shares by the Chief Technology Officer, even if for tax purposes, represents a reduction in direct ownership.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that 'sell to cover' transactions are a common practice among executives to manage tax liabilities arising from equity compensation. This type of insider transaction is generally viewed as a neutral event, distinct from discretionary sales that might signal a change in an executive's outlook on the company's prospects.

Related Party Transactions

• The transactions involving the acquisition of shares were made indirectly through the Jose N. Reyes, Jr. Trust, dated August 2, 2021, indicating a related party transaction for beneficial ownership.

Stakeholder Impact

• Shareholders: The sale of shares for tax purposes is a routine event and does not necessarily indicate a lack of confidence. The continued grant of RSUs aligns management's interests with long-term shareholder value.
• Employees: The RSU grants are part of executive compensation, which can motivate key personnel.

Key Dates

Recommendation

The filing details a routine 'sell to cover' transaction by a key executive to satisfy tax obligations related to RSU vesting, alongside a new RSU grant. This is a standard compensation event and does not provide new fundamental information to warrant a change in investment thesis. Therefore, a 'hold' recommendation is appropriate as the filing itself does not present a strong buy or sell signal.

Keywords

NuScale Power, SMR, Jose N. Reyes Jr., Chief Technology Officer, CTO, Insider Trading, Form 4, Restricted Stock Units, RSU, Stock Sale, Tax Withholding, Sell to Cover, Beneficial Ownership