Perry Griffin 4

What Happened

• Perry Griffin, a reported 10% owner of Fermi Inc. (FRMI), sold a total of 11,000,000 shares in two transactions, raising roughly $56,268,500.
  • 2026-03-30: 9,000,000 shares disposed at a weighted average price of $5.02, proceeds $45,191,700.
  • 2026-03-31: 2,000,000 shares disposed at a weighted average price of $5.54, proceeds $11,076,800.
• These were sales (S) reported on Form 4; sales are often routine disposition rather than a bullish signal.

Key Details

• Transaction dates and prices:
  • 3/30/2026 — 9,000,000 shares; WA price $5.02 (sales ranged $4.9286–$5.346) [F1].
  • 3/31/2026 — 2,000,000 shares; WA price $5.54 (sales ranged $5.4003–$5.5494) [F4].
• Total reported proceeds: $56,268,500 (approx. $56.3M).
• Shares owned after the transaction: not specified in the materials you provided / not reported here.
• Beneficial ownership note: shares are held by Caddis Holdings, LP; Mr. Griffin is a manager of Caddis Capital, LLC (GP) and may be deemed to beneficially own holdings of Caddis Holdings, LP; he disclaims beneficial ownership except to the extent of his pecuniary interest [F2].
• Corporate form note: Caddis Holdings converted from an LLC to an LP without share transfer or change in beneficial ownership [F3].
• Filing timeliness: Report filed 2026-04-01 for transactions on 3/30–3/31/2026 — appears timely under Section 16 filing rules.

Context

• As a 10% owner rather than an operational officer, these sales reflect a major holder disposition; that can be for portfolio or tax reasons and should not be taken alone as a signal of company performance.
• Footnotes clarify these lines report weighted-average prices and provide the per-share price ranges; the filer will provide per-price breakdowns on request.