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

Atlas Lithium Corp. CEO Marc Fogassa sold 55,560 shares of common stock for $4.5786 per share, executed under a Rule 10b5-1 plan.

Summary

• Marc Fogassa, who serves as CEO, Director, and a 10% Owner of Atlas Lithium Corp. (ATLX), reported a disposition of common stock.
• On March 18, 2026, Fogassa sold 55,560 shares of Atlas Lithium Corp. common stock.
• The shares were sold at a price of $4.5786 per share.
• The transaction was executed by Goldman Sachs & Co. LLC pursuant to a previously established Rule 10b5-1 plan.
• Following this transaction, Fogassa directly beneficially owns 5,407,550 shares of common stock.
• An additional 105,608 shares are held indirectly by entities controlled by Fogassa.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a routine insider transaction under a pre-established Rule 10b5-1 plan, which typically carries less negative sentiment than an unplanned sale and is often for personal financial management.

Positives

• The disposition was made pursuant to a Rule 10b5-1 plan, which indicates a pre-scheduled transaction designed to avoid accusations of insider trading and provides transparency.

Negatives

• An insider sale by a CEO, Director, and 10% owner could be perceived negatively by some investors, even if pre-planned.

Risks

• Potential for negative investor sentiment if the market misinterprets the Rule 10b5-1 plan as a lack of confidence from the CEO, despite its pre-planned nature.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider sales executed under Rule 10b5-1 plans are a common practice among executives for personal financial planning, such as diversification or liquidity management, and generally do not signal a change in the company's fundamental prospects.

Related Party Transactions

• Marc Fogassa, CEO, Director, and 10% owner, disposed of 55,560 shares of Atlas Lithium Corp. common stock. This is a transaction involving a related party.
• The transaction was executed by Goldman Sachs & Co. LLC pursuant to a previously established Rule 10b5-1 plan.

Stakeholder Impact

• Shareholders may scrutinize the insider sale, potentially leading to questions about management's confidence, although the 10b5-1 plan mitigates this concern by indicating a pre-planned transaction.

Key Dates

Recommendation

The sale by CEO Marc Fogassa, while a significant insider transaction, was executed under a Rule 10b5-1 plan. This suggests a pre-planned diversification or liquidity event rather than a reaction to new negative information about Atlas Lithium Corp. As such, this single transaction does not fundamentally alter the investment thesis for the stock, warranting a 'hold' recommendation.

Keywords

Atlas Lithium, ATLX, Marc Fogassa, Insider Trading, Form 4, Stock Sale, CEO, 10b5-1 Plan, Director, 10% Owner