Form 4: Atlas Lithium CEO Marc Fogassa Reports Stock Disposals Under 10b5-1 Plan
SEC Form 4 Filing
Atlas Lithium Corp CEO Marc Fogassa reported the disposal of common stock shares between February 27, 2024, and March 7, 2024, under a pre-arranged 10b5-1 sales plan.
Summary
- Marc Fogassa, CEO of Atlas Lithium Corp, filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the disposal of common stock shares over several days.
- Between February 27, 2024, and March 7, 2024, a total of 14,140 shares were disposed of.
- The disposals were executed by Goldman Sachs & Co. LLC under a 10b5-1 sales plan established on June 14, 2023.
- The prices per share ranged from $15.19 to $17.42.
- Following these transactions, Fogassa directly owns 4,395,845 shares of common stock.
- Fogassa also indirectly owns 105,608 shares through Lancaster Brazil Fund LP, Lancaster Gestora de Recursos Ltda, and Sainte Valiere, LLC, all entities controlled by him.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. The use of a 10b5-1 plan suggests that these sales were pre-planned and not based on any inside information at the time of the transactions.
Stakeholder Impact
- The stock disposal by the CEO may be perceived neutrally or slightly negatively by shareholders, depending on their understanding of the 10b5-1 plan and their confidence in the company's future prospects.
Key Dates
| Date | Description |
|---|---|
| 2023-06-14 | Date of establishment of the 10b5-1 sales plan. |
| 2024-02-27 | Date of the earliest transaction reported. |
| 2024-02-28 | Date of transaction reported. |
| 2024-02-29 | Date of transaction reported. |
| 2024-03-04 | Date of transaction reported. |
| 2024-03-05 | Date of transaction reported. |
| 2024-03-07 | Date of the latest transaction reported. |
| 2024-03-08 | Date of signature of the reporting person. |
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