Form 4: Atlantic International Corp. General Counsel Acquires Shares and Restricted Stock Units

Michael Tenore, General Counsel of Atlantic International Corp., acquired 577,171 shares and 577,171 restricted stock units on January 7, 2025.

Summary

• Michael Tenore, the General Counsel of Atlantic International Corp., acquired 577,171 shares of common stock at a price of $0.0001 per share on January 7, 2025.
• He also acquired 577,171 restricted stock units (RSUs) on the same date, which are exercisable on January 7, 2025, and expire on July 7, 2030.
• The RSUs were granted under Mr. Tenore's Executive Employment Agreement dated June 18, 2024, and are part of the company's 2023 Equity Incentive Plan.
• Following these transactions, Mr. Tenore directly owns 1,578,865 shares of common stock and 577,171 RSUs.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction, but the acquisition of shares and RSUs by a key executive is generally viewed positively as it aligns their interests with the company's success.

Positives

• The acquisition of shares and RSUs by a key executive like the General Counsel can be seen as a positive sign of confidence in the company's future.
• The grant of RSUs aligns the executive's interests with those of the shareholders.

Management Comments

• The RSUs were awarded under Mr. Tenore's Executive Employment Agreement dated June 18, 2024 with the Issuer.

Industry Context

This is a standard SEC Form 4 filing, which is common for publicly traded companies when insiders make transactions in their company's stock. It is a routine disclosure required by law to ensure transparency in the market.

Comparison to Industry Standards

• The use of restricted stock units as part of executive compensation is a common practice across many industries.
• The specific terms of the RSUs, such as the vesting period and expiration date, are typical for such grants.
• The price of $0.0001 per share is likely a nominal value for the purpose of the transaction, as the company's stock price is likely to be higher on the open market.

Stakeholder Impact

• The transaction may have a minor positive impact on shareholder sentiment due to the alignment of executive interests with company performance.

Key Dates

Keywords

stock acquisition, restricted stock units, equity incentive plan, insider trading, executive compensation, beneficial ownership, general counsel, ATLN