NuScale Power (SMR) Form 4 NUSCALE POWER / Jose N Reyes Jr ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Reyes Jose N Jr

(Last) (First) (Middle)

12725 SW 66TH AVENUE, SUITE 107

(Street)

PORTLAND OR 97223

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NUSCALE POWER Corp [ SMR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Technology Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/28/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	02/28/2024		M		26,641	A	(1)	471,730(2)(3)	I	By Jose N. Reyes, Jr. Trust, dated August 2, 2021
Class A Common Stock	02/29/2024		S		10,328(4)	D	$3.117	461,402	I	By Jose N. Reyes, Jr. Trust, dated August 2, 2021

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	(1)	02/28/2024		M			26,641	(5)	(5)	Class A Common Stock	26,641	$0	53,281(6)	D
Restricted Stock Unit	(1)							(7)	(7)	Class A Common Stock	98,036		65,359(3)	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. Includes 151,203 shares reported on the reporting person's Form 4 filed May 3, 2023, as being held indirectly by the reporting person through the Donna Jean Reyes Trust, dated August 2, 2021. The shares were subsequently distributed to the Jose N. Reyes Jr. Trust dated August 2, 2021, and the reporting person now holds the shares through such trust.

3. Form 4 filed May 4, 2023, reported 32,679 restricted stock units vested. The Plan Administrator rounded up calculations by 1 share to 32,680 on the first vesting. This resulted in one more share being exercised and owned by the reporting person.

4. 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.

5. On February 28, 2023, the reporting person was granted 79,922 restricted stock units, vesting in three annual installments beginning on the anniversary of the grant date.

6. Form 4 filed on March 3, 2023, inaccurately reported the number of restricted stock units granted as 81,428. The correct amount acquired was 79,922. The number of remaining derivative securities owned accurately reflects the balance of this grant.

7. On July 8, 2022, the reporting person was granted 98,039 restricted stock units to vest annually in three installments beginning on May 12, 2023.

Remarks:

	Patrick C. Cannon, attorney-in-fact for Jose N. Reyes, Jr.	03/01/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.