SOLV Energy (MWH) 10% Owner American Securities LLC Sells Shares

What Happened

• American Securities LLC, filing as a 10% owner on behalf of affiliated funds/vehicles, reported conversions and a large sale on Aug 19, 2026. Affiliated parties converted 3,069,193 Opco LLC interests into 3,069,193 shares of SOLV Energy Class A common stock (one-for-one exchange) and, separately, disposed of 7,939,153 shares in a sale reported at $27.77 per share — roughly $220.5 million in proceeds. The conversion also resulted in the cancellation of an equal number of Class B shares held by those affiliates.

Key Details

• Transaction date: 2026-08-19; Form 4 filed: 2026-08-21 (timely filing).
• Sale: 7,939,153 shares disposed at $27.77 per share (per footnote) — approx. $220.5M gross proceeds.
• Conversion: 3,069,193 Opco LLC Interests exchanged one-for-one for Class A common stock (counts shown as both acquired and disposed in filing related to derivative conversion/cancellation).
• Shares owned after transaction: not separately stated in the excerpted filing; see full filing/footnotes for ownership chain details.
• Reporting structure: American Securities LLC is the designated filer for multiple affiliated reporting persons (institutional owners and managers). This Form 4 is the first of two identical filings because there are more than 10 reporting persons.
• Footnotes: explain complex ownership chain (multiple ASP funds/partners), the one-for-one OpCo redemption mechanics, and that the Reporting Persons disclaim beneficial ownership except to their pecuniary interest.

Context

• These filings reflect institutional activity by a 10% holder and affiliated private-equity entities converting partnership/OpCo interests into publicly tradable Class A shares, then selling a block of those shares. This is not an individual executive trade; conversions and subsequent sales are structural/liquidity transactions rather than straightforward buy/sell signals by management. For retail investors, purchases are generally more informative as bullish signals; this item documents a large institutional disposition and conversion event.