AMERICAN SECURITIES LLC 4

What Happened
American Securities LLC (a 10% holder through multiple affiliated entities) sold a total economic interest of 1,882,525 shares/units on 2026-06-04 in connection with SOLV Energy’s follow‑on offering. The reported dispositions break down as 1,154,760 shares of Class A common stock sold and 727,765 Opco LLC interests redeemed for cash (reported as a derivative sale). Footnotes to the filing state a net price of $36.00 per share (public offering price net of underwriting discounts), implying aggregate proceeds of roughly $67.8 million (1,882,525 × $36). This is an institutional sale tied to the underwriters’ option exercise in the follow‑on offering—not a routine insider executive trade.

Key Details

• Transaction date: 2026-06-04; Form 4 filed 2026-06-05 (timely).
• Reported disposals: 1,154,760 Class A shares (sale) and 727,765 derivative disposals (redemption of Opco LLC interests) = 1,882,525 economic units.
• Reported per‑share price in footnotes: $36.00 (net of underwriting discounts); implied proceeds ≈ $67,770,900.
• Footnotes explain the sales were (a) direct sales of Class A shares by affiliated holders and (b) cash redemptions of Opco LLC interests under the Opco LLC agreement, with cancellation of associated Class B shares.
• Multiple affiliated entities (ASP Investco, ASP SOLV Aggregator, New ASP, sponsors and managers) are reporting persons; AS LLC is the designated filer. The Form 4 was split into two filings due to >10 reporting persons.
• Reporting persons disclaim beneficial ownership except to the extent of pecuniary interest (per filing).
• Filing not marked late.

Context

• This filing reflects institutional holders monetizing equity in a follow‑on offering and the related contractual redemption of Opco LLC interests. It is not an executive buying/selling signal and therefore should be interpreted as part of a structured offering process rather than a personal insider trade.
• Derivative line here represents the contractual redemption of Opco LLC interests for cash (not an option exercise in the usual sense).