Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-10

Nuscale Power (SMR)

CEO John Hopkins was paid $4,084,073 in fiscal year 2025, ↑ up 19.1% from fiscal year 2024, the 42nd percentile of its disclosed peer group (SEC filing 0001822966-26-000042 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$4,084,073 ↑
John Hopkins total, FY2025
42nd
CEO pay percentile vs peers
—
CEO-to-median pay ratio
96.34%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- John Hopkins (President and Chief Executive Officer), FY2025 total compensation $4,084,073 (base salary $632,615) [exec_comp, SEC accession 0001822966-26-000042, filed 2026-04-15]

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SMR's next annual pay disclosure, estimated April 21, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
John Hopkins$632,615$0$2,899,987$0$512,785$0$38,686$4,084,073
President and Chief Executive Officer
Robert Hamady408,17501,299,9940133,630029,3241,871,123
Chief Financial Officer
Clayton Scott426,17201,200,0000138,138061,4271,825,737
Chief Commercial Officer
Shahram Ghasemian123,0770849,986000820,2971,793,360
Chief Legal Officer & Corporate Secretary
Carl Fisher445,4180999,9940144,256030,8701,620,538
Chief Operating Officer
Jose Reyes415,1230799,9880134,596037,7431,387,450
Chief Technology Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
John Hopkins$4,084,073$3,428,071$2,280,220↑ +656,002
Robert Hamady1,871,1231,551,2161,635,879↑ +319,907
Clayton Scott1,825,7371,206,6381,185,915↑ +619,099
Shahram Ghasemian1,793,360———
Carl Fisher1,620,5381,801,4471,287,610↓ −180,909
Jose Reyes1,387,4501,298,1681,403,751↑ +89,282

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against SMR
2 companies name SMR as a compensation peer

Each company listed discloses SMR in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named SMR in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Carl FisherCOO$1,620,538
John HopkinsCEO$4,084,073
Jose ReyesCTO$1,387,450
Clayton ScottCCO$1,825,737
Robert HamadyCFO$1,871,123
Shahram GhasemianGeneral Counsel$1,793,360
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Alan L. BoeckmannChair of the Board$253,808
Bum-Jin ChungIndependent Director$237,900
Diana WaltersIndependent Director$199,965
James T. HackettFormer director (through FY2025)$6,047
Kent KresaIndependent Director$262,900
Kimberly O. WarnicaIndependent Director$208,185
Shinji FujinoIndependent Director$242,900
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Robert HamadyRSU2025-02-28——75,625—$1,299,994
Jose ReyesRSU2025-02-28——46,538—799,988
Clayton ScottRSU2025-02-28——69,808—1,200,000
Carl FisherRSU2025-02-28——58,173—999,994
John HopkinsRSU2025-02-28——168,702—2,899,987
Shahram GhasemianRSU2025-06-30——21,486—849,986
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Robert Hamady$1,299,994$0$00.0%
Jose Reyes799,988000.0%
Clayton Scott1,200,000000.0%
Carl Fisher999,994000.0%
John Hopkins2,899,987000.0%
Shahram Ghasemian849,986000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Robert HamadyOption177,0843.2—
John HopkinsOption416,6673.2—
Jose ReyesRSU46,538—659,443
John HopkinsRSU208,334—2,952,093
John HopkinsRSU39,284—556,654
Carl FisherRSU58,173—824,311
Clayton ScottRSU19,054—269,995
Robert HamadyRSU75,625—1,071,606
Jose ReyesRSU26,640—377,484
Jose ReyesOption125,0003.2—
Carl FisherOption208,3343.2—
Robert HamadyRSU76,923—1,089,999
Clayton ScottRSU69,808—989,179
Clayton ScottRSU52,084—738,030
John HopkinsRSU168,702—2,390,507
Jose ReyesRSU62,500—885,625
Carl FisherRSU104,167—1,476,046
Robert HamadyRSU88,542—1,254,640
Carl FisherRSU42,625—603,966
Clayton ScottOption104,1673.2—
05

Incentive-plan design — the Compensation Discussion & Analysis

We offer a balanced compensation package that includes competitive base pay and incentive compensation that rewards both short and long-term value creation.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantFW Cook
Clawback policytrue
Anti-hedgingtrue
Anti-pledging—
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-29110,778,2974,203,069849,06296.34%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-2996.34%a

a. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Kent KresaIndependent · Audit (Chair) · Compensation · Executive · Special Committee (Chair)$152,935$109,965$0—$0$262,900
Alan L. BoeckmannIndependent · Board Chair · Compensation (Chair) · Nominating and Governance · Executive143,842109,9650—1253,808
Shinji FujinoIndependent · Special Committee · Audit132,935109,9650—0242,900
Bum-Jin ChungIndependent · Nominating and Governance · Special Committee127,935109,9650—0237,900
Kimberly O. WarnicaIndependent · Compensation · Nominating and Governance (Chair) · Executive98,219109,9650—1208,185
Diana WaltersIndependent · Audit90,000109,9650—0199,965
James T. HackettIndependent · Departed during FY6,04700—06,047
John L. HopkinsEmployee director · Executive—————0
Stuart HarshawIndependent · Newly elected——————
Dale KleinIndependent · Newly elected——————
09

Board fee structure and ownership guideline

Annual cash retainer$80,000
Annual equity retainer$110,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)12,500 / 8,000 / 6,500
Stock ownership guideline$400,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$751,913
Equity awards (grant-date value)$659,790
All other compensation$2
Total cost of the board$1,411,705

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Nuscale Power names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Nuscale Power.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Enphase Energy2025Badrinarayanan Kothandaraman$450,000$8,844,624$0$306,752$9,601,958
2QuantumScape2025Siva Sivaram821,5387,547,987008,377,033
3Enovix2025Raj Talluri617,5056,999,9980375,4227,996,489
4Oklo2025Jacob DeWitte625,0005,991,910007,037,160
5Uranium Energy2025Amir Adnani660,0003,998,05501,452,0006,356,248
6Eos Energy2025Joe Mastrangelo708,2694,007,193004,854,452
7EVgo2025Badar Khan733,3333,296,2980677,0134,714,724
8Nuscale Power2025John Hopkins632,6152,899,9870512,7854,084,073
9Ormat Technologies2025Doron Blachar641,0622,000,0000816,0003,618,005
10Bloom Energy2025KR Sridhar935,385002,470,0003,502,747
11Clearway Energy2025Craig Cornelius02,899,181002,899,181
12Energy Fuels2025Andrew Littlefair787,062947,8680867,9732,698,546
13Centrus Energy2025Amir Vexler810,000269,9960980,1002,174,357

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Nuscale Powernot disclosedRSU 100not disclosedFW Cook
Bloom Energy200%RSU 50 · PSU 50NoMeridian
Centrus Energynot disclosedPRSU 100NoWTW
Clearway Energy123%PSU 67 · RSU 33Yes — Relative TSRPay Governance
Energy Fuels111%RSU 50 · PSU 50NoSemler Brossy
Enovixnot disclosedRSU 50 · PRSU 50not disclosedCompensia, Inc.
Enphase Energy68.2%PSU 67 · RSU 33Yes — Relative TSR vs. S&P 500Compensia
Eos Energynot disclosedRSU 50 · PRSU 50not disclosedPay Governance
EVgonot disclosedPSU 60 · RSU 40not disclosedPay Governance
Oklonot disclosedRSU 100not disclosedCBIZ, Inc.
Ormat Technologies97%PSU 60 · RSU 40Yes — Relative TSRF.W. Cook & Co.
QuantumScape100%PSU 70 · RSU 30NoCompensia
Uranium Energynot disclosednot disclosednot disclosednot disclosed

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at Nuscale Power in fiscal 2025?
As disclosed, John Hopkins (President and Chief Executive Officer) was the highest-paid executive at Nuscale Power in fiscal 2025, with total compensation of $4,084,073.
How does Nuscale Power's chief executive pay compare to its disclosed peer group?
As disclosed, John Hopkins's total compensation ranked at the 42nd percentile of Nuscale Power's disclosed peer group.
How did shareholders vote on Nuscale Power's executive compensation?
As disclosed, 96.34% of shareholders supported Nuscale Power's executive compensation in the latest say-on-pay vote.
How much does Nuscale Power spend in total on board compensation for fiscal 2025?
As disclosed, Nuscale Power reported total board compensation of $1,411,705 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, John HopkinsDEF 14A2026-04-150001822966-26-000042Section “Summary Executive Compensation Table” · page 44. As printed: 4,084,073. Filing ↗machine: r3 · c24 · span 447378–447387
2Section 01, Robert HamadyDEF 14A2026-04-150001822966-26-000042Section “Summary Executive Compensation Table” · page 44. As printed: 1,871,123. Filing ↗machine: r7 · c24 · span 459063–459072
3Section 01, Clayton ScottDEF 14A2026-04-150001822966-26-000042Section “Summary Executive Compensation Table” · page 44. As printed: 1,825,737. Filing ↗machine: r11 · c24 · span 471123–471132
4Section 01, Shahram GhasemianDEF 14A2026-04-150001822966-26-000042Section “Summary Executive Compensation Table” · page 44. As printed: 1,793,360. Filing ↗machine: r15 · c24 · span 482870–482879
5Section 01, Carl FisherDEF 14A2026-04-150001822966-26-000042Section “Summary Executive Compensation Table” · page 44. As printed: 1,620,538. Filing ↗machine: r19 · c24 · span 495090–495099
6Section 01, Jose ReyesDEF 14A2026-04-150001822966-26-000042Section “Summary Executive Compensation Table” · page 44. As printed: 1,387,450. Filing ↗machine: r23 · c24 · span 506662–506671
7Section 03, Robert Hamady RSUDEF 14A2026-04-150001822966-26-000042Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 541662–541671
8Section 03, Jose Reyes RSUDEF 14A2026-04-150001822966-26-000042Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 561921–561928
9Section 03, Clayton Scott RSUDEF 14A2026-04-150001822966-26-000042Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 546543–546552
10Section 03, Carl Fisher RSUDEF 14A2026-04-150001822966-26-000042Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 556659–556666
11Section 03, John Hopkins RSUDEF 14A2026-04-150001822966-26-000042Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 536653–536662
12Section 03, Shahram Ghasemian RSUDEF 14A2026-04-150001822966-26-000042Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
13Section 08, Kent KresaDEF 14A2026-04-150001822966-26-000042Section “Director Compensation”. As printed: 262,900. Filing ↗
14Section 08, Alan L. BoeckmannDEF 14A2026-04-150001822966-26-000042Section “Director Compensation”. As printed: 253,808. Filing ↗
15Section 08, Shinji FujinoDEF 14A2026-04-150001822966-26-000042Section “Director Compensation”. As printed: 242,900. Filing ↗
16Section 08, Bum-Jin ChungDEF 14A2026-04-150001822966-26-000042Section “Director Compensation”. As printed: 237,900. Filing ↗
17Section 08, Kimberly O. WarnicaDEF 14A2026-04-150001822966-26-000042Section “Director Compensation”. As printed: 208,185. Filing ↗
18Section 08, Diana WaltersDEF 14A2026-04-150001822966-26-000042Section “Director Compensation”. As printed: 199,965. Filing ↗
19Section 08, James T. HackettDEF 14A2026-04-150001822966-26-000042Section “Director Compensation”. As printed: 6,047. Filing ↗
20Section 08, John L. HopkinsDEF 14A2026-04-150001822966-26-000042Section “Director Compensation”. As printed: 0. Filing ↗
21Section 08, Stuart HarshawDEF 14A2026-04-150001822966-26-000042Section “Director Compensation”. As printed: —. Filing ↗
22Section 08, Dale KleinDEF 14A2026-04-150001822966-26-000042Section “Director Compensation”. As printed: —. Filing ↗
23Section 06, 2026 voteForm 8-K2026-06-020001822966-26-000058Item 5.07 · say-on-pay result. As reported: 96.34% (votes for as printed: 110,778,297). Filing ↗
24Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
25Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
26Section 09b board cost (computed)Computed——Cash 751,913 + equity 659,790 + all other 2 = 1,411,705, summed across the director compensation table rows.machine: formula: Σ = 1,411,705
27Enphase Energy, Section 10b CEO totalDEF 14A2026-04-010001463101-26-000026CEO total compensation as printed in Enphase Energy's own proxy. As printed: 9,601,958. Filing ↗machine: span 731757–731766
28QuantumScape, Section 10b CEO totalDEF 14A2026-04-230001193125-26-173828CEO total compensation as printed in QuantumScape's own proxy. As printed: 8,377,033. Filing ↗machine: r2 · c6 · span 1137194–1137203
29Enovix, Section 10b CEO totalDEF 14A2026-04-240001828318-26-000018CEO total compensation as printed in Enovix's own proxy. As printed: 7,996,489. Filing ↗machine: r3 · c27 · span 984909–984918
30Oklo, Section 10b CEO totalDEF 14A2026-04-210001849056-26-000023CEO total compensation as printed in Oklo's own proxy. As printed: 7,037,160. Filing ↗machine: r3 · c42 · span 245555–245564
31Uranium Energy, Section 10b CEO totalDEF 14A2026-06-100001437749-26-020059CEO total compensation as printed in Uranium Energy's own proxy. As printed: 6,356,248. Filing ↗machine: r1 · c31 · span 586648–586657
32Eos Energy, Section 10b CEO totalDEF 14A2026-04-140001628280-26-025071CEO total compensation as printed in Eos Energy's own proxy. As printed: 4,854,452. Filing ↗machine: r3 · c21 · span 506941–506950
33EVgo, Section 10b CEO totalDEF 14A2026-04-030001140361-26-013164CEO total compensation as printed in EVgo's own proxy. As printed: 4,714,724. Filing ↗machine: r2 · c24 · span 346732–346741
34Nuscale Power (subject), Section 10b CEO totalDEF 14A2026-04-150001822966-26-000042CEO total compensation as printed in Nuscale Power's own proxy. As printed: 4,084,073. Filing ↗machine: r3 · c24 · span 447378–447387
35Ormat Technologies, Section 10b CEO totalDEF 14A2026-04-210001193125-26-166752CEO total compensation as printed in Ormat Technologies's own proxy. As printed: 3,618,005. Filing ↗machine: r5 · c14 · span 1948476–1948485
36Bloom Energy, Section 10b CEO totalDEF 14A2026-04-080001628280-26-024237CEO total compensation as printed in Bloom Energy's own proxy. As printed: 3,502,747. Filing ↗machine: r2 · c36 · span 1617061–1617070
37Clearway Energy, Section 10b CEO totalDEF 14A2026-03-240001104659-26-033918CEO total compensation as printed in Clearway Energy's own proxy. As printed: 2,899,181. Filing ↗machine: r1 · c53 · span 1183724–1183733
38Energy Fuels, Section 10b CEO totalDEF 14A2026-04-300001104659-26-052378CEO total compensation as printed in Energy Fuels's own proxy. As printed: 2,698,546. Filing ↗machine: t150 · r6 · c14 · span 789888–789897
39Centrus Energy, Section 10b CEO totalDEF 14A2026-04-240001628280-26-027241CEO total compensation as printed in Centrus Energy's own proxy. As printed: 2,174,357. Filing ↗machine: r2 · c54 · span 544665–544675
40Section 10a, EVgo reciprocityDEF 14A—0001140361-26-013164EVgo's most recent proxy was read; its disclosed peer group does not include Nuscale Power. Filing ↗
41Section 10a, Bloom Energy reciprocityDEF 14A—0001628280-26-024237Bloom Energy's most recent proxy was read; its disclosed peer group does not include Nuscale Power. Filing ↗
42Section 10a, Clearway Energy reciprocityDEF 14A—0001104659-26-033918Clearway Energy's most recent proxy was read; its disclosed peer group does not include Nuscale Power. Filing ↗
43Section 10a, Enovix reciprocityDEF 14A—0001828318-26-000018Enovix's most recent proxy was read; its disclosed peer group does not include Nuscale Power. Filing ↗
44Section 10a, Centrus Energy reciprocityDEF 14A—0001628280-26-027241Centrus Energy's most recent proxy was read; its disclosed peer group does not include Nuscale Power. Filing ↗
45Section 10a, QuantumScape reciprocityDEF 14A—0001193125-26-173828QuantumScape's most recent proxy was read; its disclosed peer group does not include Nuscale Power. Filing ↗
46Section 10a, Enphase Energy reciprocityDEF 14A—0001463101-26-000026Enphase Energy's most recent proxy was read; its disclosed peer group does not include Nuscale Power. Filing ↗
47Section 10a, Uranium Energy reciprocityDEF 14A—0001437749-26-020059Uranium Energy's most recent proxy was read; its disclosed peer group does not include Nuscale Power. Filing ↗
48Section 10a, Energy Fuels reciprocityDEF 14A—0001104659-26-052378Energy Fuels's most recent proxy was read; its disclosed peer group does not include Nuscale Power. Filing ↗

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