Business Context and Reporting Period
NuScale Power Corporation filed a Form 8-K dated August 7, 2023, reporting a change in its senior finance leadership. The company develops small modular nuclear reactor technology and is listed on the NYSE under SMR and SMR WS.
Key Financial Metrics
This filing does not provide revenue, profit, cash flow, margin, debt, liquidity, or other operating financial metrics.
Material Changes Versus the Prior Comparable Period
- Christopher Colbert separated from NuScale effective August 7, 2023, after serving as Chief Financial Officer.
- R. Ramsey Hamady was appointed Chief Financial Officer effective August 7, 2023.
Guidance, Outlook, Risks, and Unusual Items
- Mr. Hamady, age 48, has 26 years of business experience, including prior CFO roles at Equify Financial and Western Magnesium Corp. and an asset management role at the Habboush Group.
- His compensation includes a $375,000 annual base salary, a 40% target annual bonus, $1.35 million of time-vested restricted stock units vesting annually over three years, and a one-time $75,000 signing bonus.
- The filing provides no new financial guidance, operating outlook, risk-factor update, severance terms for the former CFO, or other unusual financial items.
- The company stated that there are no disclosed appointment-related arrangements with other persons, family relationships with directors or executive officers, or reportable related-party transactions involving Mr. Hamady.
Investor Verification Checklist
- Review Exhibit 99.1, the August 7, 2023 press release, for additional transition details.
- Confirm the effective date and terms of Mr. Hamady’s compensation, including the restricted-stock-unit award and vesting schedule.
- Review subsequent filings for any updates regarding finance leadership, executive transition costs, or changes to financial guidance.