Chris Colbert - May 31, 2023 Form 4 Insider Report for NUSCALE POWER Corp (SMR)

Role: Chief Financial Officer
Signature: Patrick C. Cannon, attorney-in-fact for Christopher J. Colbert
Stock symbol: SMR
Transactions as of: May 31, 2023
Transactions value $: $566,888
Form type: 4
Date filed: 5/31/2023, 05:10 PM
Previous filing: May 18, 2023
Next filing: Jun 22, 2023

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	$567K	+75.6K		$7.50	75.6K	May 31, 2023	By Spouse

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	-75.6K	-100%	$0.00^*	0	May 31, 2023	Class A Common Stock	75.6K		By spouse	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The term "Paired Interests" is used herein to refer to the economic, non-voting Class B Units of NuScale Power, LLC ("Class B Units") and an equal number of paired shares of non-economic, voting Class B Common Stock of the Issuer ("Class B Common Stock"). Pursuant to and subject to the applicable terms and conditions of the limited liability company agreement of NuScale Power, LLC or the certificate of incorporation of the Issuer (each as amended from time to time): (a) the holder of Class B Units has the right, and in certain circumstances the obligation, to exchange a Class B Unit on a one-for-one basis (subject to adjustment from time to time) for, at the option of the Issuer, (i) a share of Class A Common Stock of the Issuer or (ii) an equivalent value of cash in limited circumstances; and (b) upon such an exchange, the Issuer will cancel and retire, for no consideration, the paired share of Class B Common Stock.
F2	The Reporting Person's Form 3 contained a typo. 75,586 shares should have been 75,585 shares.

Content

The term "Paired Interests" is used herein to refer to the economic, non-voting Class B Units of NuScale Power, LLC ("Class B Units") and an equal number of paired shares of non-economic, voting Class B Common Stock of the Issuer ("Class B Common Stock"). Pursuant to and subject to the applicable terms and conditions of the limited liability company agreement of NuScale Power, LLC or the certificate of incorporation of the Issuer (each as amended from time to time): (a) the holder of Class B Units has the right, and in certain circumstances the obligation, to exchange a Class B Unit on a one-for-one basis (subject to adjustment from time to time) for, at the option of the Issuer, (i) a share of Class A Common Stock of the Issuer or (ii) an equivalent value of cash in limited circumstances; and (b) upon such an exchange, the Issuer will cancel and retire, for no consideration, the paired share of Class B Common Stock.

The Reporting Person's Form 3 contained a typo. 75,586 shares should have been 75,585 shares.