SEC FORM 3

SEC FORM 3 SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

NEUGEBAUER TOBY R

(Last)

(First)

(Middle)

620 S. TAYLOR ST., SUITE 301

(Street)

AMARILLO

79101

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/30/2025

3. Issuer Name and Ticker or Trading Symbol
Fermi Inc. [ FRMI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	President, CEO

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	7,500,000⁽¹⁾	D
Common Stock	94,359,659	I	See Footnote⁽²⁾
Common Stock	45,241,787	I	See Footnote⁽³⁾
Common Stock	4,500,000	I	See Footnote⁽⁴⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)

1. Name and Address of Reporting Person^*

NEUGEBAUER TOBY R

(Last)

(First)

(Middle)

620 S. TAYLOR ST., SUITE 301

(Street)

AMARILLO

79101

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	President, CEO

1. Name and Address of Reporting Person^*

Melissa A. Neugebauer 2020 Trust

(Last)

(First)

(Middle)

620 S. TAYLOR ST., SUITE 301

(Street)

AMARILLO

79101

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Consists of shares of restricted stock of Fermi Inc. (the "Issuer") subject to time-based vesting conditions.

2. Reflects shares of common stock of the Issuer directly held by Melissa A. Neugebauer 2020 Trust. Mr. Neugebauer is the investment trustee of Melissa A. Neugebauer 2020 Trust and may be deemed to beneficially own Common Stock of the Issuer held by Melissa A. Neugebauer 2020 Trust. Mr. Neugebauer disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. This report shall not be deemed an admission that Mr. Neugebauer is the beneficial owner of such securities for purposes of Sections 13 and 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. The reporting persons declare that neither the filing of this statement nor anything herein shall be construed as an admission that such persons are, for the purposes of Section 13(d) or 13(g) of the Exchange Act or any other purpose, a member of a group with respect to the Issuer or securities of the Issuer.

3. Reflects shares of common stock of the Issuer directly held by Vicksburg Investments Management LLC. Mr. Neugebauer is a managing member of Vicksburg Investments Management LLC and may be deemed to beneficially own common stock of the Issuer held by Vicksburg Investments Management LLC. Mr. Neugebauer disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. This report shall not be deemed an admission that Mr. Neugebauer is the beneficial owner of such securities for purposes of Sections 13 and 16 of the Exchange Act or for any other purpose.

4. Reflects shares of common stock of the Issuer directly held by TMNN Manager LLC. Mr. Neugebauer is a managing member of TMNN Manager LLC and may be deemed to beneficially own common stock of the Issuer held by TMNN Manager LLC. Mr. Neugebauer disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. This report shall not be deemed an admission that Mr. Neugebauer is the beneficial owner of such securities for purposes of Sections 13 and 16 of the Exchange Act or for any other purpose.

	TOBY R. NEUGEBAUER /s/ Toby R. Neugebauer	09/30/2025
	MELISSA A. NEUGEBAUER 2020 TRUST /s/ Toby R. Neugebauer, Trustee	09/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

New insider Neugebauer Toby R claimed ownership of 151,601,446 shares (SEC Form 3)