Alvin Collins
About Alvin C. Collins, III
Alvin C. Collins, III, 52, has served on NuScale Power Corporation’s Board since February 25, 2021. He is Group President of Corporate Development and Sustainability at Fluor Corporation (since January 2021) and holds a B.S. in Construction Science and Management from Clemson University; he also attended the Thunderbird School of Global Management’s International Consortium program . Collins brings 30+ years of EPC, global operations, and business development experience across energy and industrial sectors, with assignments in the U.S., Europe, Middle East, and Asia .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Fluor Corporation | Group President, Corporate Development & Sustainability | Jan 2021–present | Strategic corporate development; sustainability leadership |
| Fluor Corporation | SVP, Global Operations (Energy & Chemicals) | Jul 2020–Jan 2021 | Global operations oversight |
| Fluor Corporation | SVP, Energy & Chemicals – Americas | Nov 2019–Jun 2020 | Regional leadership |
| Fluor Corporation | SVP, Global Business Development | Nov 2019–Jun 2020 | Global BD leadership |
| Fluor Arabia Limited (Fluor) | General Manager; VP BD, Middle East & Africa | Prior years (dates not specified) | Regional growth; EPC market development |
| Fluor Corporation | VP Operations, Europe/Africa/Middle East | Prior years (dates not specified) | Regional operations management |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Public company boards | None disclosed | — | — |
| Private/Non-profit | None disclosed | — | — |
Collins was recommended for appointment by Fluor and is a current Fluor executive, creating an interlock with a related party to NuScale .
Board Governance
- Independence: Not independent due to current employment with Fluor; the Board expects majority independence by October 4, 2025 as NuScale is no longer a controlled company .
- Committee memberships: Member, Nominating & Corporate Governance Committee (not Chair) ; not on Audit, Compensation, or Executive Committees .
- Attendance: Board met 7 times; committees 13 times in 2024. All current directors, including Collins, attended all Board and committee meetings on which they served .
| Committee | Role | 2024 Meetings | Attendance |
|---|---|---|---|
| Nominating & Corporate Governance | Member | 2 | 100% |
| Board of Directors | Director | 7 | 100% |
Governance signals:
- Audit Committee reviews related party transactions; Kresa (Chair) and Walters qualify as financial experts .
- Corporate opportunity waiver is being amended to align with Delaware law and to moot the “Tucker” class action (filed Dec 2024) challenging the prior waiver scope—claim involves current directors (signal to monitor) .
Fixed Compensation (Director)
| Component | Amount | Notes |
|---|---|---|
| Annual Board cash retainer | $0 | Directors employed by NuScale or Fluor are not compensated |
| Committee member fees | $0 | Same policy applies |
| Committee chair fees | $0 | Not applicable (not a chair) |
| Annual RSU grant (directors) | $0 | Fluor-employed directors not compensated |
Peer director framework (for context): non-employee directors receive $80,000 cash retainer, plus committee fees, and annual RSUs of $110,000 vesting quarterly; however, Collins does not receive these due to Fluor employment .
Performance Compensation (Director)
| Metric Type | Structure | 2024 Detail |
|---|---|---|
| Performance-based director pay | None disclosed | NuScale does not disclose performance metrics for director compensation; Fluor-employed directors receive no director pay |
Other Directorships & Interlocks
| Entity | Relationship | Exposure |
|---|---|---|
| Fluor Enterprises, Inc. | Significant stockholder (related person); extensive bilateral services agreements | NuScale paid $2,436,639 to Fluor for EPC/services; Fluor and subsidiary paid $3,212,457 to NuScale for engineering/design services in 2024 |
| Appointment pathway | Recommended by Fluor | Interlock noted by Nominating & Governance Committee |
Expertise & Qualifications
- EPC, energy industry, and global operations expertise; extensive sector coverage (oil & gas, petrochemicals, power generation/transmission/distribution, life sciences, wastewater) .
- Strategic planning, governance/compliance, risk management experience aligned with Board needs .
- Education: B.S., Clemson University; Thunderbird International Consortium program .
Equity Ownership
| Holder | Class A Shares | Class B Shares | % Total Voting Power |
|---|---|---|---|
| Alvin C. Collins, III | 0 | 0 | <1% |
Section 16 compliance: NuScale reports all directors complied with Section 16(a) in 2024 except for two late Form 4s for Boeckmann and Kresa; no exception noted for Collins .
Governance Assessment
- Independence and conflicts: Collins is not independent due to his current Fluor employment, and Fluor is a related party with material transactions, creating perceived conflict risk. Audit Committee reviews related person transactions; Collins sits on the Nominating & Governance Committee, which must be fully independent by October 4, 2025—monitor composition and any transition off the committee if independence requirements tighten .
- Ownership alignment: Collins holds no NuScale shares; as a Fluor-employed director he receives no director equity or cash fees, and is not subject to director ownership guidelines that apply to non-Fluor directors (5x cash retainer). Lack of personal ownership is a potential alignment concern for investors focused on “skin-in-the-game” .
- Engagement and effectiveness: He attended 100% of Board and committee meetings in 2024; his deep EPC and energy expertise is relevant to NuScale’s commercialization and delivery milestones .
- Corporate opportunity waiver litigation: The Board’s move to amend Article XIII to clarify waiver scope and moot the Tucker action is a governance signal worth monitoring for shareholder response and final vote outcome (requires two-thirds of outstanding voting shares) .
- RED FLAGS:
- Related-party exposure via Fluor with bilateral transactions and Collins’ Fluor role (conflict risk) .
- Zero beneficial ownership by Collins (alignment risk) .
- Corporate opportunity waiver challenge and amendment (fiduciary duty scrutiny) .
Implications: While Collins contributes sector-specific and EPC expertise with full attendance, his non-independent status and Fluor interlock warrant heightened monitoring of related-party transactions, committee independence by the 2025 deadline, and any evolution in personal ownership or compensation structure to improve alignment .