Not independent
Tenure on this board
0.7 yrs
8 nominees · 1 ballot item.
Shareholder proponents led by Toby R. Neugebauer are soliciting agent designations to call a special meeting of shareholders anticipated on or around June 30, 2026, via a green agent designations card; management has not provided a recommendation in this filing.
Shareholder proponents (the Participants) seek agent designations from shareholders to call a special meeting of shareholders anticipated on or around June 30, 2026, by soliciting proxies via a GREEN agent designations card; specific resolutions to be considered at the Special Meeting are not specified in this filing.
This proposal seeks agent designations from shareholders to enable the Participants to call a special meeting of Fermi Inc. anticipated on or around June 30, 2026. The Participants (led by Toby R. Neugebauer and affiliated entities) intend to solicit proxies via a GREEN agent designations card and state they will file a definitive proxy statement describing the matters to be considered. The filing discloses substantial beneficial ownership by Mr. Neugebauer and affiliated entities, which suggests the solicitation may be driven by significant shareholder influence and could aim to effect governance changes, board composition shifts, or other strategic outcomes, although the specific proposals to be voted on at the Special Meeting are not disclosed in this filing. The Participants’ public advisory emphasizes that shareholders should review the forthcoming proxy materials and provides logistical disclosure about accessing those materials. Management or the board has not provided a recommendation or opposition statement in this filing, so the company’s position on the solicitation is not expressed here; historically, boards often oppose shareholder-initiated calls for special meetings unless they view them as necessary, citing disruption or existing governance mechanisms. Key risks and considerations include the timeline for convening the Special Meeting, the impact of Neugebauer’s concentrated holdings on vote outcomes, potential litigation or regulatory scrutiny if contentious governance changes are pursued, and proxy solicitation costs and contest dynamics. For investors evaluating the proposal, the lack of substantive resolution language in this filing requires waiting for the definitive proxy statement to assess the exact corporate actions being sought, the Participants’ specific demands, and the board’s formal response and rationale. Until such materials are filed, shareholders considering whether to designate agents should weigh the proponent’s disclosed ownership stake and possible motives against the absence of concrete proposals and the company’s yet-to-be-disclosed counterarguments.
| # | Owner | % of shares | Shares | Value |
|---|---|---|---|---|
| 1 | UBS Group AG | 1.3% | 8,605,332 | $50M |
| 2 | CITADEL ADVISORS LLC | 1.0% | 6,221,706 | $36M |
| 3 | GOLDMAN SACHS GROUP INC | 0.8% | 5,392,783 | $31M |
| 4 | BARCLAYS PLC | 0.5% | 3,017,838 | $18M |
| 5 | T. Rowe Price Investment Management, Inc. | 0.4% | 2,473,357 | $14M |
| 6 | Weiss Asset Management LP | 0.4% | 2,415,027 | $14M |
| 7 | TORTOISE CAPITAL ADVISORS, L.L.C. | 0.4% | 2,280,837 | $13M |
| 8 | ADAGE CAPITAL PARTNERS GP, L.L.C. | 0.4% | 2,250,000 | $13M |
| 9 | CAPTRUST FINANCIAL ADVISORS | 0.2% | 1,586,758 | $9M |
| 10 | Alyeska Investment Group, L.P. | 0.2% | 1,582,857 | $9M |
The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon.
This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.
None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by Boardroom Alpha that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.
No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.