Lerner Steven J. 4

What Happened

• Steven J. Lerner, a director of SOLV Energy, reported a disposition to the issuer on 2026-06-04: he redeemed 2,400 Opco LLC interests (derivative units) for cash in connection with the underwriters' full exercise of the option in a follow‑on offering. The filing states a price per unit equal to the offering price of $36.00 (net of underwriting discounts), implying gross proceeds of about $86,400. An equal number (2,400) of the Issuer’s Class B common shares held by Lerner were surrendered and cancelled as part of the redemption.

Key Details

• Transaction date: 2026-06-04; Form 4 filed: 2026-06-05 (timely).
• Transaction type/code: Disposition to issuer (derivative redemption).
• Units redeemed: 2,400 Opco LLC interests; price per unit: $36.00 (per filing footnote); approximate cash proceeds: $86,400.
• Effect on Class B stock: 2,400 Class B shares surrendered and cancelled; Class B shares carry voting rights only and no economic rights.
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: redemption performed under the Opco LLC agreement as part of a Follow‑On Offering (underwriters’ option); price tied to the public offering price; Opco LLC interests may be redeemed for stock or cash per the agreement.

Context

• This was a structured redemption tied to a corporate follow‑on offering (underwriters’ option exercise), not a routine open‑market sale. The transaction reflects conversion/redemption mechanics between Opco LLC interests and the Issuer, and the cancellation of voting‑only Class B shares, rather than a straightforward executive sale for personal reasons. As always, this is a factual disclosure of a corporate liquidity event — not an explicit statement of the insider’s market view.