Atlanticus CAO option exercise and tax withholding detailed in Form 4

Rhea-AI Filing Summary

Atlanticus Holdings (ATLC) insider filing: the Chief Accounting Officer reported transactions on 11/10/2025. The executive exercised 1,000 employee stock options (Code M) at an exercise price of $15.30 per share, then had 591 shares withheld (Code F) at $50.75 to cover the option exercise price and tax obligations. Following these transactions, the executive directly owned 51,975 shares of common stock. The option position reported in the filing shows 0 derivative securities remaining after the exercise; the option had vested in three equal installments on November 11 of 2021, 2022, and 2023.

Insider Trade Summary

1,000 shares exercised/converted

Mixed 3 txns

Insider Saunders Mitchell

Role Chief Accounting Officer

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	1,000	$0.00	--
Exercise	Common Stock	1,000	$15.30	$15K
Tax Withholding	Common Stock	591	$50.75	$30K

Holdings After Transaction: Employee Stock Option (right to buy) — 0 shares (Direct); Common Stock — 52,566 shares (Direct)

Footnotes (1)

1. Reflects shares of Atlanticus Holdings Corporation common stock withheld to satisfy the option exercise price and tax withholding obligations upon the exercise of the stock option. The stock option vested in three equal installments on November 11, 2021, November 11, 2022 and November 11, 2023.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Saunders Mitchell

(Last) (First) (Middle)

C/O ATLANTICUS HOLDINGS CORPORATION

FIVE CONCOURSE PARKWAY, SUITE 300

(Street)

ATLANTA GA 30328

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Atlanticus Holdings Corp [ ATLC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/10/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/10/2025		M		1,000	A	$15.3	52,566	D
Common Stock	11/10/2025		F(1)		591	D	$50.75	51,975	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$15.3	11/10/2025		M			1,000	(2)	11/11/2025	Common Stock	1,000	$0	0	D

Explanation of Responses:

1. Reflects shares of Atlanticus Holdings Corporation common stock withheld to satisfy the option exercise price and tax withholding obligations upon the exercise of the stock option.

2. The stock option vested in three equal installments on November 11, 2021, November 11, 2022 and November 11, 2023.

	/s/ Mitchell Saunders	11/13/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did ATLC’s insider report on Form 4?

The Chief Accounting Officer exercised 1,000 stock options at $15.30 and had 591 shares withheld at $50.75 for exercise price and taxes.

How many ATLC shares does the insider own after the transactions?

The filing reports 51,975 shares directly owned after the transactions.

What transaction codes were used in the ATLC Form 4?

Code M for option exercise and Code F for shares withheld to cover exercise price and taxes.

What was the exercise price of the options?

The reported exercise price was $15.30 per share.

At what price were the withheld shares valued?

The withheld shares were reported at $50.75 per share.

Do any option awards remain after the reported exercise?

The filing shows 0 derivative securities remaining after the exercise.

When did the exercised option vest?

It vested in three equal installments on November 11, 2021, November 11, 2022, and November 11, 2023.