Perry James Richard 4

What Happened Perry James Richard, a director of Fermi Inc. (FRMI), reported a sale of 863,637 shares on 2026-06-30 at $7.31 per share, for total proceeds of $6,313,186. The Form 4 lists the transaction as a sale (S).

Key Details

• Transaction date: 2026-06-30; filing date (Form 4): 2026-07-02 (filed within the standard 2-business-day window).
• Price per share: $7.31; Shares sold: 863,637; Total proceeds: $6,313,186.
• Shares owned after transaction: not disclosed in the provided summary.
• Footnote: the filing states the sales were pursuant to the exercise of options granted in connection with the Issuer’s Series C fundraising round prior to the IPO (see footnote F1).
• No indication in the report that this was a 10b5-1 plan, gift, or tax withholding disposition.

Context The filing indicates these shares were sold following the exercise of previously granted options (an exercise-and-sale liquidity event). Such transactions frequently reflect liquidity from pre-IPO option grants rather than an explicit statement about the director’s view of the company. Retail investors should view this as a sale of option-derived shares, not necessarily as an operational signal.