Jose N. Reyes Jr. - 22 Nov 2022 Form 4 Insider Report for NUSCALE POWER Corp (SMR)

Role
Chief Technology Officer
Signature
Patrick C. Cannon, attorney-in-fact for Jose N. Reyes, Jr.
Issuer symbol
SMR
Transactions as of
22 Nov 2022
Net transactions value
+$1,333,947
Form type
4
Filing time
04 May 2023, 15:53:04 UTC
Previous filing
16 Nov 2022
Next filing
23 Feb 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SMR Class A Common Stock Conversion of derivative security $1,651,137 +151,203 $10.92 151,203 22 Nov 2022 By Donna Jean Reyes Trust, dated August 2, 2011
transaction SMR Class A Common Stock Options Exercise $785,635 +242,480 +127% $3.24 433,930 02 May 2023 By Jose N. Reyes, Jr. Trust, dated August 2, 2021
transaction SMR Class A Common Stock Sale $807,260 -100,000 -23% $8.07 333,930 02 May 2023 By Jose N. Reyes, Jr. Trust, dated August 2, 2021 F1, F2
transaction SMR Class A Common Stock Options Exercise $279,079 +32,679 +9.8% $8.54 366,609 02 May 2023 By Jose N. Reyes, Jr. Trust, dated August 2, 2021
transaction SMR Class A Common Stock Sale $574,643 -72,724 -20% $7.90 293,885 03 May 2023 By Jose N. Reyes, Jr. Trust, dated August 2, 2021 F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SMR Paired Interests Conversion of derivative security $0 +151,203 $0.000000 151,203 22 Nov 2022 Class B Common Stock 151,203 By Donna Jean Reyes Trust, dated August 2, 2021 F5, F6
transaction SMR Employee Stock Option (right to buy) Options Exercise $0 -242,480 -100% $0.000000* 0 02 May 2023 Class A Common Stock 242,480 $3.24 By Jose N. Reyes, Jr. Trust, dated August 2, 2021
transaction SMR Restricted Stock Unit Options Exercise $0 -32,679 -18% $0.000000 146,788 02 May 2023 Class A Common Stock 32,679 Direct F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The shares sold are to cover the stock option exercise costs and tax withholdings in conjunction with the exercise of 242,480 options granted on 2/19/2016. The balance of unsold share are held as Class A. Shares.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.91 to $8.34, inclusive. The reporting person undertakes to provide to NuScale Power Corporation, any security holder of NuScale Power Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F3 The shares sold are to cover the stock option exercise costs and tax withholdings in conjunction with the exercise of 242,480 options granted on 2/19/2016 and the Restricted Stock Units that vested on 5/2/2023. The balance of unsold share are held as Class A. Shares.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.75 to $8.22, inclusive. The reporting person undertakes to provide to NuScale Power Corporation, any security holder of NuScale Power Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F5 The conversion price of $10.92 is determined on the date of transaction, November 22, 2022.
F6 Continental Stock Transfer and Trust Company was notified November 15, 2022, to issue shares of Class A Common Stock for each share of Class B Common Stock, the shares consitute free trade shares.
F7 Restricted stock units convert into common stock on a one for one basis.
F8 On July 8, 2022, the reporting person was granted 98,039 restricted stock units, vesting in three equal installments beginning on the first anniversary of the merger on May 2, 2023.