Form 4: ATLX CEO Sells Stock Under 10b5-1 Plan

Atlas Lithium Corp. CEO Marc Fogassa sold 27,280 shares of common stock for $4.6498 each, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Marc Fogassa, Chief Executive Officer, Director, and 10% Owner of Atlas Lithium Corp. (ATLX), disposed of 27,280 shares of common stock.
• The transaction occurred on September 22, 2025, at a price of $4.6498 per share.
• The disposition was effected by Goldman Sachs & Co. LLC pursuant to a previously established Rule 10b5-1 plan.
• Following the reported transaction, Marc Fogassa directly beneficially owns 4,689,284 shares of common stock.
• Additionally, 105,608 shares of common stock are indirectly beneficially owned by entities controlled by Marc Fogassa.

Sentiment

Score: 4

Explanation: The disposition of shares by a key insider is generally a negative signal. However, the fact that it was executed under a pre-arranged Rule 10b5-1 plan mitigates some of the immediate negative implications, suggesting it's not based on new, adverse material information.

Positives

• The disposition was made pursuant to a Rule 10b5-1 plan, indicating a pre-scheduled sale not necessarily based on new, adverse material non-public information.

Negatives

• A significant insider sale by the CEO, Director, and 10% owner could be perceived negatively by the market, potentially signaling a lack of confidence or a desire for diversification.

Stakeholder Impact

• Shareholders may interpret the insider sale as a negative signal, potentially impacting investor confidence and the company's stock price.

Key Dates

Recommendation

While insider selling can be a negative indicator, this transaction was executed under a Rule 10b5-1 plan, which suggests it was pre-scheduled and not necessarily driven by new, adverse material information. Investors should monitor future filings and company performance, but this single planned sale does not warrant an immediate 'sell' recommendation without further context.

Keywords

Atlas Lithium Corp, ATLX, Marc Fogassa, Insider Trading, Form 4, Stock Sale, CEO, 10b5-1 Plan, Common Stock