Fermi Inc. (FRMI) director receives 250,000-share restricted stock grant

Rhea-AI Filing Summary

Stein Jeffrey Scott reported acquisition or exercise transactions in this Form 4 filing.

Fermi Inc. director Jeffrey Scott Stein received a grant of 250,000 shares of common stock as restricted stock compensation. The shares were awarded at a price of $0.00 per share and increase his directly owned holdings to 250,000 shares after the transaction.

According to the disclosure, the award was made under Fermi Inc.'s 2025 Long-Term Incentive Plan and will generally vest on April 19, 2027, as long as Stein maintains his service relationship with the company through that date. This is a compensation-related equity grant rather than an open-market purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Stein Jeffrey Scott

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	250,000	$0.00	--

Holdings After Transaction: Common Stock — 250,000 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Restricted stock granted: 250,000 shares Grant price per share: $0.00 per share Shares held after transaction: 250,000 shares +1 more

4 metrics

Restricted stock granted 250,000 shares Award of common stock to director on June 1, 2026

Grant price per share $0.00 per share Equity compensation, not open-market purchase

Shares held after transaction 250,000 shares Total direct holdings following restricted stock award

Vesting date April 19, 2027 Restricted stock generally vests if service continues to that date

Key Terms

restricted stock, 2025 Long-Term Incentive Plan, vest

3 terms

restricted stock financial

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

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

2025 Long-Term Incentive Plan financial

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

vest financial

"that will generally vest on April 19, 2027, subject to Mr. Stein's continued service"

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^*

Stein Jeffrey Scott

(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		250,000(1)	A	$0	250,000	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 of the Issuer granted to Mr. Stein under the Issuer's 2025 Long-Term Incentive Plan that will generally vest on April 19, 2027, subject to Mr. Stein's continued service relationship with the Issuer through such date.

	/s/ Jeffrey S. Stein	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) director Jeffrey Scott Stein report?

Jeffrey Scott Stein reported receiving 250,000 shares of Fermi Inc. common stock as a restricted stock grant. The shares were awarded as compensation under the 2025 Long-Term Incentive Plan, not bought in the open market, and carry future vesting conditions.

How many Fermi Inc. (FRMI) shares does Jeffrey Scott Stein hold after this Form 4 filing?

After the reported transaction, Jeffrey Scott Stein directly holds 250,000 shares of Fermi Inc. common stock. All of these shares relate to the newly granted restricted stock award and are subject to vesting under the company’s 2025 Long-Term Incentive Plan requirements.

Was cash paid for Jeffrey Scott Stein’s Fermi Inc. restricted stock grant?

No cash was paid for the grant; the 250,000 restricted shares were issued at $0.00 per share as an equity award. This indicates they are part of Stein’s compensation package, not an open-market purchase funded with personal capital.

When will Jeffrey Scott Stein’s Fermi Inc. restricted stock award vest?

The restricted stock award will generally vest on April 19, 2027, if Jeffrey Scott Stein continues his service relationship with Fermi Inc. through that date. Vesting means the shares become fully earned and no longer subject to forfeiture conditions.

Under which plan was the Fermi Inc. (FRMI) restricted stock granted to Jeffrey Scott Stein?

The 250,000-share restricted stock award was granted under Fermi Inc.’s 2025 Long-Term Incentive Plan. This plan is designed to provide equity-based compensation, aligning director and employee interests with long-term company performance and shareholder value over time.