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FRMIFermi Inc. · Insider ownership research

Fermi Inc. insiders sold $33.2M in the past 12 months. How much of their stake is that?

0% was sold under disclosed trading plans, 38% to cover taxes, 62% with no plan disclosed. The largest seller, Toby Neugebauer (10% owner), sold $14.4M.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 16, 2026 from SEC filings · covers Oct 17, 2025 to Oct 16, 2026
$20.7M
sold with no plan disclosed, past 12 months
0%
of sales were under disclosed trading plans, past 12 months
6 of 11
officers and directors sold shares, past 12 months
Latest filing: Filed Oct 15 for a sale from Oct 13 to Oct 14. Toby Neugebauer sold 4.05M shares ($14.4M) with no plan disclosed. Filing
SEC ownership filings: 18 filed in the 12 months to Oct 16, 2026; 29 on record since Oct 2, 2025 · See the evidence

What stands out

Two insiders sold $20.7M with no disclosed plan: Toby Neugebauer ($14.4M) and James Perry ($6.3M). The filings don't state a reason.Toby Neugebauer: largest such sale, Oct 13, 2026 · James Perry: largest such sale, Jun 30, 2026
Outside holder Griffin Perry, a 10% owner and not part of management, sold $56.3M of stock.Largest sale, Mar 30, 2026
Selling picked up in the last 90 days: officers and directors sold 4.05M shares, against an average of 1.13M per 90 days earlier in the period. Most of it was Toby Neugebauer (4.05M shares in the last 90 days); 0% of these sales were under disclosed plans.Toby Neugebauer: largest recent sale, Oct 13, 2026

A share of stake is shown for 0 of the 6 officers and directors who sold. 11 are left out

i
Left out: Toby Neugebauer, James Perry, Blanes Ortiz, Charles Hamilton, Miles Everson, Lawrence Kellerman, Mesut Uzman, Marius Haas, Lee McIntire, Cordel Robbin-Coker and Jeffrey Stein (share of stake is being verified).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Toby Neugebauer
10% owner
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$14.4MNo plan disclosed
James Perry
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$6.3MNo plan disclosed
Blanes Ortiz
Chief Operating Officer
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$3.9MTo cover taxes
Miles Everson
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$3.9MTo cover taxes
Charles Hamilton
Chief Site Development Officer
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$3.7MTo cover taxes
All 6 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

To cover taxesNo plan disclosedOne dollar scale for every month; the tallest bar is labeled
OctNovDecJanFebMarApr 2026: $11.5M to cover taxesAprMayJun 2026: $1.0M to cover taxesJun 2026: $6.3M no plan disclosedJunJulAugSepOct 2026: $14.4M no plan disclosed$14.4MOct

Recent activity

Past 30 days, Sep 17, 2026 to Oct 16, 2026
Oct 14, 2026Toby Neugebauer sold 1.30M shares ($4.1M) with no plan disclosed.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Toby Neugebauer
10% owner
1,297,200$3.15n/an/aOct 14, 2026Oct 15, 2026
Oct 13, 2026Toby Neugebauer sold 2.75M shares ($10.3M) with no plan disclosed.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Toby Neugebauer
10% owner
2,750,000$3.73n/an/aOct 13, 2026Oct 15, 2026

"% of total stake" is the shares in an event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings are not confirmed, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Outside holders, reported separately

Griffin Perry sold $56.3M in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.

Details

Common questions

Is the Fermi Inc. CEO selling stock?

No. Lee McIntire reported no open-market sales in the past 12 months.

Why are Fermi Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings, 38% were to cover taxes and 62% had no disclosed plan. A trading plan schedules sales in advance.

Are any Fermi Inc. insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

The evidence

Who sold6 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Toby Neugebauer
10% owner
$14.4M
4.05M shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
James Perry
Director
$6.3M
864K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Blanes Ortiz
Chief Operating Officer
$3.9M
831K shares
Not confirmed
share of stake is being verified. Why
To cover taxes
Miles Everson
Director
$3.9M
830K shares
Not confirmed
share of stake is being verified. Why
To cover taxes
Charles Hamilton
Chief Site Development Officer
$3.7M
774K shares
Not confirmed
share of stake is being verified. Why
To cover taxes
Mesut Uzman
Chief Nuclear Constr. Officer
$1.0M
159K shares
Not confirmed
share of stake is being verified. Why
To cover taxes

Outside holder, reported separately: Griffin Perry (a 10% owner, not part of management). Sold $56.3M (11.00M shares) from Mar 30, 2026 to Mar 31, 2026. Latest filing

The full ownership picture0 of 11 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 16, 2025SoldHeld Oct 16, 2026Still held
Toby Neugebauer
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Toby Neugebauer are complete.
10% owner
n/a−4.05Mn/an/a
Vesting, gifts, unvested awards and holding lines for Toby Neugebauer

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Toby Neugebauer are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
James Perry
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for James Perry are complete.
Director
n/a−864Kn/an/a
Vesting, gifts, unvested awards and holding lines for James Perry

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for James Perry are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Blanes Ortiz
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Blanes Ortiz are complete.
Chief Operating Officer
n/a−831Kn/an/a
Vesting, gifts, unvested awards and holding lines for Blanes Ortiz

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Blanes Ortiz are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Charles Hamilton
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Charles Hamilton are complete.
Chief Site Development Officer
n/a−774Kn/an/a
Vesting, gifts, unvested awards and holding lines for Charles Hamilton

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Charles Hamilton are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Miles Everson
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Miles Everson are complete.
Director
n/a−830Kn/an/a
Vesting, gifts, unvested awards and holding lines for Miles Everson

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Miles Everson are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Lawrence Kellerman
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Lawrence Kellerman are complete.
Chief Power Officer, Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Lawrence Kellerman

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Lawrence Kellerman are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Mesut Uzman
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Mesut Uzman are complete.
Chief Nuclear Constr. Officer
n/a−159Kn/an/a
Vesting, gifts, unvested awards and holding lines for Mesut Uzman

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Mesut Uzman are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Marius Haas
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Marius Haas are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Marius Haas

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Marius Haas are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Lee McIntire
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Lee McIntire are complete.
Chief Executive Officer, Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Lee McIntire

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Lee McIntire are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Cordel Robbin-Coker
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Cordel Robbin-Coker are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Cordel Robbin-Coker

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Cordel Robbin-Coker are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Jeffrey Stein
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Jeffrey Stein are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Jeffrey Stein

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Jeffrey Stein are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Holdings and share of stake for Fermi Inc. are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$33.2M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $33.2M across 7,504,585 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $20.7M

Sales with no 10b5-1 plan and no tax reference in the filing. $14.4M of it is Toby Neugebauer. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Toby Neugebauer, Oct 13, 2026

Taxes

$12.5M of sales (37.8%) cite tax obligations in their footnotes. Example: Mesut Uzman, Jun 3, 2026

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Toby Neugebauer
10% owner
4.05M$14.4M0%43%Oct 13, 2026 to Oct 14, 2026
James Perry
Director
864K$6.3M0%19%Jun 30, 2026 to Jun 30, 2026
Blanes Ortiz
Chief Operating Officer
831K$3.9M0%12%Apr 8, 2026 to Apr 9, 2026
Miles Everson
Director
830K$3.9M0%12%Apr 8, 2026 to Apr 9, 2026
Charles Hamilton
Chief Site Development Officer
774K$3.7M0%11%Apr 8, 2026 to Apr 9, 2026
Mesut Uzman
Chief Nuclear Constr. Officer
159K$1.0M0%3%Jun 3, 2026 to Jun 3, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$0$0$0$0
Dec 2025$0$0$0$0
Jan 2026$0$0$0$0
Feb 2026$0$0$0$0
Mar 2026$0$0$0$0
Apr 2026$11.5M$0$11.5M$0
May 2026$0$0$0$0
Jun 2026$7.3M$0$1.0M$6.3M
Jul 2026$0$0$0$0
Aug 2026$0$0$0$0
Sep 2026$0$0$0$0
Oct 2026$14.4M$0$0$14.4M
Known gaps and uncertainty11 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for Fermi Inc. are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology29 filings on record, 18 filed in the 12-month period, and how we read them

All 29 Forms 3, 4 and 5 on record for Fermi Inc. (SEC CIK 2071778), filed from Oct 2, 2025 to Oct 15, 2026; 18 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 16, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (1)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
Anna BofaNo balance on record

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.