Form 4: Fermi Inc. 10% Owner Sells 11 Million Shares

Griffin Perry, a Director and 10% owner of Fermi Inc., along with Caddis Holdings, LP, reported the sale of 11 million shares of common stock over two days in late March 2026.

Summary

• Griffin Perry, a Director and 10% owner of Fermi Inc. (FRMI), and Caddis Holdings, LP, reported the sale of 11,000,000 shares of common stock.
• On March 30, 2026, 9,000,000 shares were sold at a weighted average price of $5.0213 per share, with individual sales prices ranging from $4.9286 to $5.346.
• On March 31, 2026, an additional 2,000,000 shares were sold at a weighted average price of $5.5384 per share, with individual sales prices ranging from $5.4003 to $5.5494.
• These transactions were conducted pursuant to a Rule 10b5-1(c) plan, indicating they were pre-arranged.
• Following these sales, the reporting persons beneficially own 60,946,450 shares of Fermi Inc. common stock indirectly through Caddis Holdings, LP.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a moderately negative signal due to the substantial volume of shares sold by a key insider and 10% owner, even though the transactions were pre-planned.

Negatives

• A significant insider sale of 11,000,000 shares by a Director and 10% owner, Griffin Perry, and Caddis Holdings, LP.
• The sales occurred at prices between $4.9286 and $5.5494, potentially indicating a belief that the current valuation is favorable for selling by a major stakeholder.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider sales, even when pre-planned under Rule 10b5-1, can sometimes be interpreted by the market as a signal regarding management's perception of the company's valuation or future prospects. While a 10b5-1 plan suggests the decision was made in advance, the sheer volume of shares sold by a significant owner like Griffin Perry warrants attention, especially if other insiders are also selling or if the company's stock has recently seen substantial gains.

Related Party Transactions

• Griffin Perry, a Director and 10% owner of Fermi Inc., is also a manager of Caddis Capital, LLC, the general partner of Caddis Holdings, LP, which directly held the shares sold. This establishes a related party relationship for the transactions.

Stakeholder Impact

• Shareholders: May interpret the significant insider selling as a negative signal, potentially leading to downward pressure on the stock price.
• Management/Employees: Could potentially impact morale if perceived as a lack of confidence by a major owner, though the 10b5-1 plan mitigates this somewhat.

Key Dates

Recommendation

The significant insider selling by a Director and 10% owner, even under a pre-arranged 10b5-1 plan, warrants caution. While not an immediate 'sell' signal given the pre-planned nature, it suggests that a major stakeholder is taking profits. Investors should 'hold' and monitor future insider activity and company performance for clearer directional signals, as this sale could indicate a belief that the stock is fully valued in the near term.

Keywords

Fermi Inc., FRMI, Insider Sale, Griffin Perry, Caddis Holdings, SEC Form 4, Stock Sale, 10b5-1 Plan, Beneficial Ownership