Fermi (FRMI) COO Jacobo Ortiz Receives 147,059 RSU Award

What Happened
Jacobo Ortiz Blanes, Chief Operating Officer of Fermi, was granted 147,059 restricted stock units (RSUs) on August 20, 2026. The Form 4 reports the award at $0.00 per share (typical for RSU grants); no cash was paid. The RSUs generally vest in three equal, time-based installments on the first, second and third anniversaries of the grant date, subject to continued service.

Key Details

• Transaction date: 2026-08-20; Transaction type: Award/Grant (RSUs); Amount: 147,059 shares; Reported price: $0.00.
• Vesting: One-third on each of the first, second and third anniversaries of the grant date (per footnote).
• Shares held/beneficial ownership: Filing notes 4,347,059 shares of restricted common stock subject to time-based vesting (footnote F3). The filing does not list an explicit total of shares owned outright after this grant.
• Footnotes: F1 notes shares held by Las Brisas Financial Services LLC (Ortiz is a managing member and disclaims beneficial ownership except to the extent of pecuniary interest); F2 confirms the award are RSUs with the described vesting; F3 quantifies restricted shares.
• Filing timeliness: Transaction dated Aug 20, 2026; Form 4 filed Aug 27, 2026 — later than the typical two-business-day filing requirement for Form 4.

Context
RSU grants are common executive compensation/retention tools and do not represent an immediate purchase or sale; they only convert to actual shares as they vest and remain subject to forfeiture if service conditions are not met. Awards convey less immediate market signal than open-market purchases or sales. The Las Brisas footnote indicates some holdings are held through an entity Ortiz manages, with a standard disclaimer about beneficial ownership.