Not independent
Tenure on this board
0.9 yrs
8 nominees · 1 ballot item.
Solicitation of agent designations by certain shareholders to call a special meeting of Fermi Inc. shareholders (special meeting anticipated on or around June 30, 2026).
A group of shareholders (the Participants led by Toby R. Neugebauer and affiliated entities) are soliciting agent designations and intend to file a definitive proxy statement and green agent designations card to call a special meeting of shareholders anticipated on or around June 30, 2026.
This proposal is a shareholder-initiated solicitation seeking agent designations to call a Special Meeting of Fermi Inc. shareholders, anticipated on or around June 30, 2026. The Participants, led by founder Toby Neugebauer and affiliated entities that together reported substantial beneficial ownership in a prior Schedule 13G, intend to file a definitive proxy statement and a green agent designations card to solicit proxy support. The action seeks the procedural mechanism of agent designations rather than directly proposing specific director nominees or corporate actions in this filing; however, calling a Special Meeting typically precedes proposals to replace directors or pursue other governance or strategic changes. The Participants’ substantial reported holdings give them meaningful voting influence and a credible pathway to secure agent designations if they can persuade other shareholders. Management’s recommendation is not included in this filing; the company’s board may issue an opposition statement in its own materials, and historically boards resist shareholder-initiated special meetings due to cost, disruption, and potential loss of control. The proposal therefore represents a potential catalyst for governance change, with attendant uncertainties including possible board turnover, strategic redirection, or negotiation between factions. The proxy solicitation will trigger typical regulatory disclosures and procedural hurdles (adequate notice, quorum rules, and proxy solicitation requirements). Institutional investors will weigh the participants’ ownership stake and case for change against the potential operational disruption and the board’s stewardship record. Given the limited information in this filing about specific goals beyond calling the Special Meeting, sophisticated investors should monitor subsequent definitive proxy materials for proposed slate nominations, specific resolutions, and the board’s formal response before forming a definitive voting decision.
| # | Owner | % of shares | Shares | Value |
|---|---|---|---|---|
| 1 | SRS Investment Management, LLC | 3.15% | 20,205,579 | $185M |
| 2 | Point72 Asset Management, L.P.Activist | 1.10% | 7,036,123 | $64M |
| 3 | D. E. Shaw Co., Inc.Activist | 0.76% | 4,854,154 | $44M |
| 4 | CITADEL ADVISORS LLC | 0.73% | 4,650,101 | $43M |
| 5 | MILLENNIUM MANAGEMENT LLC | 0.67% | 4,303,619 | $39M |
| 6 | ExodusPoint Capital Management, LP | 0.64% | 4,068,302 | $37M |
| 7 | Gotham Asset Management, LLC | 0.62% | 3,943,404 | $36M |
| 8 | NEXPOINT ASSET MANAGEMENT, L.P. | 0.62% | 3,941,477 | $36M |
| 9 | CITADEL ADVISORS LLC | 0.61% | 3,936,954 | $36M |
| 10 | VANGUARD PORTFOLIO MANAGEMENT LLC | 0.60% | 3,852,877 | $35M |
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