Fermi grants 35,818 shares to power chief

Kellerman Lawrence M. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Kellerman Lawrence M. reported acquisition or exercise transactions in this Form 4 filing.

Fermi Inc. granted its Chief Power Officer, Kellerman Lawrence M., 35,818 shares of common stock as a stock award with no cash paid per share. These restricted stock units generally vest on May 29, 2027, conditioned on his continued service. A footnote also corrects an earlier Form 3, clarifying he held zero directly owned shares as of September 30, 2025, and that no transactions occurred between that date and this grant.

Insider Trade Summary

Grant/Award: 35,818 shares

Grant/Award 1 txn

Insider Kellerman Lawrence M.

Role Chief Power Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	35,818	$0.00	$0.00

Holdings After Transaction: Common Stock — 35,818 shares (Direct)

Footnotes (2)

1. F1. Represents an award of restricted stock units of the Issuer granted to Mr. Kellerman under the Issuer's 2025 Long-Term Incentive Plan that will generally vest on May 29, 2027, subject to Mr. Kellerman's continued service relationship with the Issuer through such date.
2. F2. This Form 4 reflects a correction to the number of shares of common stock reported as directly beneficially owned by the reporting person on the Form 3 filed on September 30, 2025. Due to an administrative error, the Form 3 reported direct beneficial ownership of 11,700,000 shares of common stock; the correct number of shares of common stock directly beneficially owned as of that date was zero. No transactions occurred between the Form 3 filing date and the date of this Form 4.

Key Figures

Stock award size: 35,818 shares Award price per share: $0.00 per share Shares after transaction: 35,818 shares +3 more

6 metrics

Stock award size 35,818 shares Restricted stock unit grant to Chief Power Officer

Award price per share $0.00 per share Grant, award, or other acquisition (compensation)

Shares after transaction 35,818 shares Total directly owned following the grant

Incorrect prior ownership reported 11,700,000 shares Erroneous direct beneficial ownership on earlier Form 3

Correct prior ownership 0 shares Actual direct beneficial ownership as of September 30, 2025

Vesting date May 29, 2027 RSUs vesting subject to continued service

Key Terms

restricted stock units, 2025 Long-Term Incentive Plan, beneficially owned, Form 3

4 terms

restricted stock units financial

"Represents an award of restricted stock units of the Issuer granted to Mr. Kellerman"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

2025 Long-Term Incentive Plan financial

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

beneficially owned financial

"the correct number of shares of common stock directly beneficially owned as of that date was zero"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Form 3 regulatory

"reported as directly beneficially owned by the reporting person on the Form 3 filed"

Form 3 is the initial public filing that officers, directors and large shareholders must submit to report their ownership of a company’s securities when they become insiders. It acts like an opening inventory sheet that gives investors a starting point to see who holds significant stakes and to spot later trades or potential conflicts of interest, helping assess insider confidence and transparency.

FAQ

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

What did Fermi Inc. (FRMI) disclose about Kellerman Lawrence M.'s new shares?

Fermi Inc. granted Kellerman Lawrence M. 35,818 shares of common stock as a stock award at no cash cost per share, increasing his direct holdings to 35,818 shares, subject to vesting conditions tied to continued service through May 29, 2027.

When do Kellerman Lawrence M.'s new Fermi (FRMI) restricted stock units vest?

The restricted stock units granted to Kellerman Lawrence M. generally vest on May 29, 2027. Vesting depends on his continued service relationship with Fermi Inc. through that date under the company’s 2025 Long-Term Incentive Plan, aligning compensation with multi-year retention.

How many Fermi (FRMI) shares does Kellerman Lawrence M. hold after this transaction?

Following the award, Kellerman Lawrence M. directly holds 35,818 shares of Fermi common stock. These shares come from a restricted stock unit grant reported at zero purchase price, reflecting compensation rather than an open-market stock purchase or sale.

Was there a correction to Kellerman Lawrence M.'s prior Fermi (FRMI) ownership disclosure?

Yes. A footnote explains a prior Form 3 mistakenly reported 11,700,000 directly owned shares. The correct number as of September 30, 2025 was zero, and no transactions occurred between that earlier filing date and the date of this new stock award.

Did Kellerman Lawrence M. buy or sell Fermi (FRMI) shares on the market in this filing?

No open-market trades were reported. The filing shows an acquisition via a grant of 35,818 restricted stock units at a stated price of $0.00 per share, categorized as a grant or award rather than a purchase or sale transaction.

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

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Accepted by SEC EDGAR 06/03/2026 - 08:40 PM EDT Learn about SEC filing dates

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^*

Kellerman Lawrence M.

(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
X	Officer (give title below)		Other (specify below)
	Chief Power Officer

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		35,818(1)	A	$0	35,818(1)(2)	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 of the Issuer granted to Mr. Kellerman under the Issuer's 2025 Long-Term Incentive Plan that will generally vest on May 29, 2027, subject to Mr. Kellerman's continued service relationship with the Issuer through such date.

2. This Form 4 reflects a correction to the number of shares of common stock reported as directly beneficially owned by the reporting person on the Form 3 filed on September 30, 2025. Due to an administrative error, the Form 3 reported direct beneficial ownership of 11,700,000 shares of common stock; the correct number of shares of common stock directly beneficially owned as of that date was zero. No transactions occurred between the Form 3 filing date and the date of this Form 4.

	/s/ Lawrence M. Kellerman	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)