Rick Perry loses reelection to Fermi board of directors seat

Who's involved

• Rick PerryFormer Texas Governor and board member
• Toby NeugebauerFormer CEO and co-founder
• FermiPlanned power and data center company
• Texas Tech University SystemLand lessor

The facts

• Perry failed to receive votes for reelection to Fermi's board of directors at an annual meeting Friday.^{1 2} Stated by 2 sources
• Fermi leases about 5,000 acres of land from Texas Tech University System in Amarillo.^{1 2} Stated by 2 sources
• Fermi's data center project, known as Project Matador, plans to use natural gas, nuclear, solar and batteries for power.^{1 2} Stated by 2 sources
• Fermi has a still-pending U.S. Nuclear Regulatory Commission license application for a large light-water reactor.^{1 2} Stated by 2 sources
• Neugebauer was removed as CEO for cause in April after company leadership cited public outbursts.^{1 2} Stated by 2 sources
• Perry's son Griffin owns about 60 million Fermi shares through Caddis Holdings LP, giving him just under 10% ownership.^{1 2} Stated by 2 sources

Who said what

These are statements and claims made by the people involved. They are reported, not verified.

• Toby Neugebauer He did not campaign to have Perry removed from the board.^{1 2}
• Toby Neugebauer Company leadership, including Perry, should be blamed for refusing to entertain a sale that would have been better for shareholders.^{1 2}