SEC Form 4 filings for Fluor Corp show a one-sided pattern: 67 trades, all sells, with zero open-market purchases. The total sell value reached $2.44 billion, and the recent window, covering 23 transactions, contained no buys at all. Every trade in the dataset is tied to a single ticker, SMR, which is the company’s nuclear energy spin-off, NuScale Power.
The selling has been heavy and concentrated. The largest single transaction occurred on February 13, 2026, when an insider sold SMR shares worth $1.35 billion. That was followed by three large sales in April 2026: $162.9 million on April 9, $150.4 million on April 15, and $159.4 million on April 21. Earlier activity in October 2025 shows a cluster of sales on October 1 through October 8, with individual values ranging from roughly $64,000 to $18.4 million. The pattern is consistent: insiders have been reducing SMR positions steadily, with no corresponding accumulation.
The Form 4 codes clarify what these transactions are not. The sales are coded as "S," meaning open-market sales, not automatic tax withholdings or option exercises. Two entries from November 2025 are coded "C," conversions of derivative securities, but they carry a value of zero and do not represent cash proceeds. There are no grants, gifts, or purchases in the recent data. The direction is unambiguous: insiders have sold SMR stock in large amounts over the past six months, and the most recent filings, from April 2026, show the selling continued at a pace of roughly $150 million per transaction.
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