Fisher Carl M. 4

What Happened
Carl M. Fisher, Chief Operating Officer of NuScale Power (SMR), sold a total of 49,277 shares in two open-market transactions on March 4, 2026. The sales were for 35,777 shares at $12.64 each (≈ $452,221) and 13,500 shares at $12.64 each ($170,640), for aggregate proceeds of about $622,861. These were outright sales (code S), which are generally routine cashing-out activity rather than purchases that signal added insider conviction.

Key Details

• Transaction date: March 4, 2026; Filing date: March 6, 2026 (Form 4 accession 0001822966-26-000031) — appears to be filed timely.
• Price per share: $12.64 for both lots.
• Shares sold: 35,777 and 13,500 (total 49,277). Total proceeds ≈ $622,861.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1 — sales were effected pursuant to a Rule 10b5-1 trading plan adopted August 12, 2025; F2 — multiple lots at the same price have been combined.
• Transaction type: Sale (S). No option exercise, gift, or tax-withholding indicated.

Context
A 10b5-1 trading plan indicates these sales were pre-arranged and scheduled under a plan adopted in August 2025, which can limit the inference that the insider timed the market. For retail investors, purchases typically carry more informational weight than planned sales; treat this as routine insider liquidity unless other disclosures suggest otherwise.