Form 4: Atlas Lithium CEO Sells Shares Under 10b5-1 Plan

Atlas Lithium Corp's CEO, Marc Fogassa, disposed of 27,272 shares of common stock at $4.4573 per share through a pre-arranged Rule 10b5-1 plan.

Summary

• Marc Fogassa, Chief Executive Officer, Director, and 10% Owner of Atlas Lithium Corp (ATLX), reported a disposition of common stock.
• On November 5, 2025, Fogassa sold 27,272 shares of Atlas Lithium common stock.
• The shares were sold at a price of $4.4573 per share.
• This transaction was executed by Goldman Sachs & Co. LLC under a previously established Rule 10b5-1 plan.
• Following the transaction, Fogassa directly beneficially owns 4,634,740 shares and indirectly owns 105,608 shares through controlled entities.

Sentiment

Score: 5

Explanation: A CEO selling shares is typically a negative signal, but the execution under a Rule 10b5-1 plan mitigates the negative sentiment as it indicates a pre-scheduled transaction rather than a reaction to new, undisclosed information.

Negatives

• A significant insider sale by the CEO, Director, and 10% owner could be perceived negatively by the market, despite being pre-planned.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Disposition of common stock by Marc Fogassa, the Chief Executive Officer, Director, and 10% owner of Atlas Lithium Corp.

Stakeholder Impact

• Shareholders may perceive the insider sale as a negative signal, potentially leading to concerns about management's confidence in future prospects, although the 10b5-1 plan mitigates this concern.

Key Dates

Recommendation

While an insider sale by a CEO can be a negative signal, this transaction was executed under a pre-arranged Rule 10b5-1 plan. This suggests the sale was scheduled in advance and not based on new, undisclosed information, thus not necessarily indicating a change in the company's fundamental outlook. Investors should monitor future filings and company performance for further insights.

Keywords

Atlas Lithium, ATLX, Marc Fogassa, Insider Sale, Form 4, CEO, Director, 10b5-1 Plan, Stock Disposition, Beneficial Ownership