Form 4: NuScale Power Corp Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Robert K. Temple, General Counsel of NuScale Power Corp, sold shares of Class A Common Stock to cover tax withholding obligations related to vesting restricted stock units.
Summary
- Robert K. Temple, General Counsel of NuScale Power Corp, filed a Form 4 detailing changes in beneficial ownership.
- On May 2, 2024, Temple acquired 32,680 shares of Class A Common Stock through the vesting of restricted stock units and disposed of the same amount to cover tax obligations.
- On May 3, 2024, he sold 8,873 shares at $6.04 per share.
- On May 6, 2024, he sold 23,806 shares at a weighted average price of $6.07, with prices ranging from $5.83 to $6.29.
- Following these transactions, Temple directly owns 19,054 shares of Class A Common Stock and 32,679 restricted stock units.
- The sale on May 6, 2024, was executed under a pre-existing 10b5-1 trading plan.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and tax obligations, with no indication of unusual or concerning activity.
Industry Context
Executive stock sales are a common occurrence, particularly around vesting events. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on insider information.
Stakeholder Impact
- The stock sales could have a minor, temporary impact on the stock price, but the use of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 07/08/2022 | Reporting person was granted 98,039 restricted stock units, vesting in three annual installments beginning on May 2, 2023. |
| 05/02/2023 | First vesting date of restricted stock units granted on July 8, 2022. |
| 05/02/2024 | Acquisition and disposal of 32,680 shares of Class A Common Stock due to vesting of restricted stock units and covering tax obligations. |
| 05/03/2024 | Sale of 8,873 shares of Class A Common Stock at $6.04 per share. |
| 05/06/2024 | Sale of 23,806 shares of Class A Common Stock at a weighted average price of $6.07 per share. |
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