Form 4: Atlas Lithium Corp CEO Marc Fogassa Reports Stock Disposals Under 10b5-1 Plan

CEO Marc Fogassa reported the disposal of Atlas Lithium Corp shares under a pre-arranged 10b5-1 sales plan.

Summary

• On March 11 and 12, 2024, Marc Fogassa, CEO of Atlas Lithium Corp, reported disposing of common stock.
• The disposals were executed under a 10b5-1 sales plan that was entered into on June 14, 2023, and has now ended.
• On March 11, 2024, 805 shares were disposed of at a price of $15.05 per share.
• On March 12, 2024, 10 shares were disposed of at a price of $15.02 per share.
• Following these transactions, Fogassa directly owns 4,395,030 shares of common stock.
• Fogassa also indirectly owns 105,608 shares through entities he controls.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports stock disposals under a pre-arranged plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The stock disposals could have a minor negative impact on shareholder sentiment, but the effect is likely to be minimal since the disposals were pre-planned.

Key Dates