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  4. [Form 4/A] Atlantic International Corp. Amended Insider Trading Activity

Atlantic International Corrects Major Executive Stock Grant Mistake

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4/A

Rhea-AI Filing Summary

This Form 4/A is an amended insider trading report for Michael Tenore, General Counsel of Atlantic International Corp (ATLN), correcting a filing from January 8, 2025. The amendment addresses transactions that occurred on January 7, 2025.

Key transaction details:

  • Acquired 577,171 shares of common stock at $0.0001 per share
  • Received 577,171 Restricted Stock Units (RSUs) with exercise price of $0.0001
  • RSUs are exercisable from January 7, 2026, with expiration on July 7, 2030
  • Total direct ownership after transactions: 1,001,634 shares

Important correction note: The filing indicates that the RSU shares were issued in error and subsequently returned to the issuer under Rule 16b-3(e). This amendment appears to be correcting this erroneous issuance.

Positive

  • None.

Negative

  • RSUs totaling 577,171 shares were issued in error to the General Counsel and had to be returned to the company, indicating potential internal control weaknesses in equity compensation management
Insider Tenore Michael
Role General Counsel
Bought 577,171 shs ($57.72)
Type Security Shares Price Value
Grant/Award Restricted Stock Units 577,171 $0.00 --
Purchase Common Stock, $.0001 par value 577,171 $0.0001 $57.72
Holdings After Transaction: Restricted Stock Units — 577,171 shares (Direct); Common Stock, $.0001 par value — 1,001,634 shares (Direct)
Footnotes (1)
  1. [object Object]
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*
Tenore Michael
(Last) (First) (Middle)
270 SYLVAN AVENUE, SUITE 2230
(Street)
ENGLEWOOD CLIFFS NJ 07632
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ATLANTIC INTERNATIONAL CORP. [ ATLN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
General Counsel
3. Date of Earliest Transaction (Month/Day/Year)
06/23/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
01/08/2025 		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, $.0001 par value 01/07/2025 01/07/2025 P 577,171 A $0.0001 1,001,634 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
Restricted Stock Units(1) $0.0001 01/07/2025 01/07/2025 A 577,171 01/07/2026 07/07/2030 Common Stock 577,171 $0 577,171 D
Explanation of Responses:
1. The underlying shares of common stock to these restricted stock units ("RSUs") were issued in error and returned to the issuer pursuant to Rule 16b-3(e).
/s/ Michael Tenore 06/25/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many shares did ATLN's General Counsel Michael Tenore acquire on January 7, 2025?

According to the Form 4/A filing, Michael Tenore acquired 577,171 shares of ATLN common stock at a price of $0.0001 per share on January 7, 2025.

What is the total amount of ATLN shares owned by Michael Tenore after the reported transaction?

Following the reported transaction, Michael Tenore directly owned 1,001,634 shares of ATLN common stock.

What happened with ATLN General Counsel's Restricted Stock Units (RSUs)?

The Form 4/A indicates that 577,171 Restricted Stock Units were initially granted to Michael Tenore on January 7, 2025, but these RSUs were issued in error and were subsequently returned to the issuer pursuant to Rule 16b-3(e).

What was the exercise price and expiration date of ATLN's RSUs granted to Michael Tenore?

The RSUs had a conversion price of $0.0001, were exercisable from January 7, 2026, and had an expiration date of July 7, 2030. However, these RSUs were issued in error and returned to the company.

Why did ATLN file this Form 4/A amendment on June 28, 2025?

The Form 4/A was filed as an amendment to the original Form 4 filed on January 8, 2025, to correct an error regarding the RSU issuance. The filing clarifies that the RSUs were issued in error and were returned to the issuer under Rule 16b-3(e).