Fermi Inc. reported that shareholders failed to elect nominees Rick Perry and Jeffrey S. Stein as Class I directors at the October 30, 2026 Annual Meeting because neither received a majority of shares outstanding, despite receiving majorities of votes cast. The company alleges that investors affiliated with Toby Neugebauer breached a Director Nomination Agreement by voting against Governor Perry; had those 98.9 million shares been voted as required, Perry would have been elected. Consequently, the incumbents continue to serve until successors are qualified in 2029. The meeting also saw shareholders ratify Ernst & Young LLP as the independent auditor. Fermi Inc. operates in the financial services sector.
