0002071778 2025-01-01 2025-12-31 0002071778 2025-12-31 2025-01-01 2025-12-31 DEF 14A 0002071778 false Fermi Inc. true <div><div style="margin:0;padding:0;border-width:0;border-width:0pt;"><p style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><span id="T9915" style="display: inline-block;"></span><span style="font-style:normal;font-weight:bold;"></span><span style="font-style:normal;font-weight:bold;">Clawback Policy </span></p><p style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:24pt;widows:3;margin-top:8pt;">The Company has adopted the Clawback Policy that complies with rules recently promulgated by Nasdaq and the SEC. The Clawback Policy applies to current and former executive officers, and it provides for the recovery of certain incentive<span>-based</span> compensation received during a three<span>-year</span> recovery period if we are required to prepare an accounting restatement due to material noncompliance with any financial reporting requirement under the applicable securities laws. The incentive<span>-based</span> compensation recoverable under the Clawback Policy generally includes the amount of incentive<span>-based</span> compensation received (while we have a class of securities listed on a national securities exchange or national securities association) that exceeds the amount that would have been received had it been determined based on the restated financials (without regard to any taxes paid). The Clawback Policy does not condition clawback on the fault of an executive officer, but the required clawback under the Clawback Policy is subject to certain limited exceptions in accordance with the SEC and Nasdaq Listing Rules. A copy of the Insider Trading Policy is filed as Exhibit 97.0 to the Company’s most recent Annual Report on Form 10<span>-K</span>.</p></div></div> <p style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:24pt;widows:3;margin-top:8pt;"> We do not currently grant, nor have we historically granted, stock options or similar awards as part of our equity compensation programs. If stock options or similar awards were to be granted in the future, we would not grant such options or similar awards in anticipation of the release of material nonpublic information that is likely to result in changes to the price of our common stock. During fiscal year 2025, we did not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation. </p> We do not currently grant, nor have we historically granted, stock options or similar awards as part of our equity compensation programs. If stock options or similar awards were to be granted in the future, we would not grant such options or similar awards in anticipation of the release of material nonpublic information that is likely to result in changes to the price of our common stock true