Fermi Inc. holder proposes $20.6M sale of 10M shares

Available on EDGAR 11/12/2026 - 06:29 PM EST Accepted by SEC EDGAR 11/12/2026 - 06:28 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Fermi Inc. shares are the subject of a Form 144 notice for a proposed sale of 10,000,000 common shares for the account of Toby Neugebauer, identified as a 10% stockholder. The approximate sale date is November 12, 2026. The notice says the total includes 5,000,000 shares to be sold by Vicksburg Investments Management LLC and 5,000,000 by Melissa A. Neugebauer 2020 Trust. The prior-sales table names Toby Neugebauer and Melissa Neugebauer as trustees of the trust. Goldman Sachs & Co. LLC is named as broker. The securities information lists an aggregate market value of $20,600,000 and 641,259,703 shares outstanding.

Key Figures

Common shares proposed for sale: 10,000,000 shares Aggregate market value: $20,600,000 Common shares outstanding: 641,259,703 shares

3 metrics

Common shares proposed for sale 10,000,000 shares Approximate sale date November 12, 2026

Aggregate market value $20,600,000 For the proposed sale

Common shares outstanding 641,259,703 shares Reported in the securities information

Key Terms

10% Stockholder, Aggregate Market Value

2 terms

10% Stockholder regulatory

"Relationship to Issuer: 10% Stockholder"

Aggregate Market Value financial

"Aggregate Market Value"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many FRMI shares does the Form 144 notice list for sale?

The notice lists 10,000,000 Fermi common shares for sale, with an aggregate market value of $20,600,000. The approximate sale date is November 12, 2026; Goldman Sachs & Co. LLC is named as broker.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001098464
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Fermi Inc.
SEC File Number	001-42888
Address of Issuer	1845 Woodall Rodgers Fwy Suite 1100 Dallas TEXAS 75201
Phone	1-214-894-7855
Name of Person for Whose Account the Securities are To Be Sold	Toby Neugebauer
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	10% Stockholder

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	10000000	20600000	641259703	11/12/2026	NASD

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	01/10/2025	Acquired from issuer in private transaction	Issuer			5000000	01/10/2025	None
Common Stock	01/10/2025	Acquired from issuer in private transaction	Issuer			5000000	01/10/2025	None

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Melissa A. Neugebauer 2020 TR DTD 12/11/2020 Toby Neugebauer& Melissa Neugebauer, TTEE 1845 Woodall Rodgers Fwy Suite 1100 Dallas TX 75201	Common Stock	10/13/2026	2750000	10266575
Vicksburg Investments Management, LLC 1845 Woodall Rodgers Fwy Suite 1100 Dallas TX 75201	Common Stock	10/14/2026	1297200	4089293.28
Melissa A. Neugebauer 2020 TR DTD 12/11/2020 Toby Neugebauer& Melissa Neugebauer, TTEE 1845 Woodall Rodgers Fwy Suite 1100 Dallas TX 75201	Common Stock	10/20/2026	420749	1277225.66
Vicksburg Investments Management, LLC 1845 Woodall Rodgers Fwy Suite 1100 Dallas TX 75201	Common Stock	11/03/2026	1281900	2613922.29
Melissa A. Neugebauer 2020 TR DTD 12/11/2020 Toby Neugebauer& Melissa Neugebauer, TTEE 1845 Woodall Rodgers Fwy Suite 1100 Dallas TX 75201	Common Stock	11/03/2026	1281900	2613922.29
Melissa A. Neugebauer 2020 TR DTD 12/11/2020 Toby Neugebauer& Melissa Neugebauer, TTEE 1845 Woodall Rodgers Fwy Suite 1100 Dallas TX 75201	Common Stock	11/04/2026	94000	187511.2
Melissa A. Neugebauer 2020 TR DTD 12/11/2020 Toby Neugebauer& Melissa Neugebauer, TTEE 1845 Woodall Rodgers Fwy Suite 1100 Dallas TX 75201	Common Stock	11/05/2026	5000000	7603000

144: Remarks and Signature

Remarks	Total number of shares to be sold includes 5,000,000 shares sold by VICKSBURG INVESTMENTS MANAGEMENT LLC and 5,000,000 shares sold by MELISSA A. NEUGEBAUER 2020 TRUST.
Date of Notice	11/12/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	Goldman Sachs & Co. LLC on behalf of Toby Neugebauer
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)