Fermi (FRMI) director granted 175,094 RSUs under 2025 Long-Term Incentive Plan

Rhea-AI Filing Summary

Perry James Richard reported acquisition or exercise transactions in this Form 4 filing.

Fermi Inc. director Perry James Richard received an equity grant of 175,094 restricted stock units (RSUs) of Fermi common stock as compensation. The award was granted at no cash cost to him and increases his direct holdings to 16,691,444 shares.

The RSUs are scheduled to vest in three tranches under Fermi’s 2025 Long-Term Incentive Plan: 69,638 units on September 30, 2026, 35,818 units on May 29, 2027, and 69,638 units on September 30, 2027. Each vesting date requires Mr. Perry to maintain a continued service relationship with the company through that date.

Insights

Equity compensation analyst

Routine RSU grant to Fermi director with multi-year vesting.

Director Perry James Richard was granted 175,094 RSUs of Fermi Inc. common stock at a stated price of $0.00 per unit. This is characterized as a grant or award under the company’s long-term incentive framework, not an open-market share purchase.

The grant vests over time: 69,638 RSUs on September 30, 2026, 35,818 on May 29, 2027, and 69,638 on September 30, 2027, contingent on continued service. After this grant, Mr. Perry holds 16,691,444 shares directly, indicating the transaction is small relative to his existing position.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Perry James Richard

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	175,094	$0.00	--

Holdings After Transaction: Common Stock — 16,691,444 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

RSU grant size: 175,094 RSUs Grant price: $0.00 per share Holdings after grant: 16,691,444 shares +3 more

6 metrics

RSU grant size 175,094 RSUs Equity award to director Perry James Richard

Grant price $0.00 per share Stated price for RSU award

Holdings after grant 16,691,444 shares Total common shares owned directly post-transaction

First vesting tranche 69,638 RSUs Scheduled to vest on September 30, 2026

Second vesting tranche 35,818 RSUs Scheduled to vest on May 29, 2027

Third vesting tranche 69,638 RSUs Scheduled to vest on September 30, 2027

Key Terms

restricted stock units ("RSUs"), 2025 Long-Term Incentive Plan, vest

3 terms

restricted stock units ("RSUs") financial

"Represents an award of restricted stock units ("RSUs") of the Issuer granted to Mr. Perry"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

2025 Long-Term Incentive Plan financial

"RSUs of the Issuer granted to Mr. Perry under the Issuer's 2025 Long-Term Incentive Plan"

vest financial

"that will generally vest as follows: (i) 69,638 RSUs on September 30, 2026"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Perry James Richard

(Last) (First) (Middle)

620 S. TAYLOR ST., SUITE 301

(Street)

AMARILLO TEXAS 79101

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Fermi Inc. [ FRMI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/01/2026		A		175,094(1)	A	$0	16,691,444	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents an award of restricted stock units ("RSUs") of the Issuer granted to Mr. Perry under the Issuer's 2025 Long-Term Incentive Plan that will generally vest as follows: (i) 69,638 RSUs on September 30, 2026, (ii) 35,818 RSUs on May 29, 2027, and (iii) 69,638 RSUs on September 30, 2027, in each case subject to Mr. Perry's continued service relationship with the Issuer through such date.

	/s/ James Richard Perry	06/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Fermi Inc. (FRMI) disclose for Perry James Richard?

Fermi Inc. reported that director Perry James Richard received an equity grant of 175,094 restricted stock units of common stock. The award was recorded at a price of $0.00 per share as compensation rather than an open-market purchase.

How many Fermi (FRMI) shares does Perry James Richard hold after this Form 4 grant?

Following the grant, Perry James Richard beneficially owns 16,691,444 shares of Fermi common stock directly. This figure, disclosed in the Form 4, provides context for the size of the 175,094-unit restricted stock award.

What is the vesting schedule for Perry James Richard’s new FRMI RSU award?

The 175,094 RSUs vest in three tranches: 69,638 units on September 30, 2026, 35,818 units on May 29, 2027, and 69,638 units on September 30, 2027. Each tranche requires his continued service with Fermi through the applicable date.

Under which plan were the new Fermi (FRMI) RSUs granted to Perry James Richard?

The restricted stock units were granted under Fermi’s 2025 Long-Term Incentive Plan. This plan governs equity-based compensation awards, including RSUs, that align director and executive interests with long-term shareholder value through service-based vesting conditions.

Does the Form 4 for Fermi (FRMI) show a stock purchase or sale by Perry James Richard?

The filing shows a grant-type acquisition coded as a compensation award, not an open-market purchase or sale. The transaction code "A" and a $0.00 per-share price indicate a non-cash equity grant of 175,094 RSUs.