Atlas Lithium (ATLX) Form 4: Fogassa Disposes 27,280 Shares via 10b5-1

Rhea-AI Filing Summary

Marc Fogassa, CEO, director and 10% owner of Atlas Lithium Corp (ATLX), reported an open-market disposition of 27,280 shares of common stock on 09/22/2025 at a price of $4.6498 per share. The filing states the sale was effected by Goldman Sachs & Co. LLC pursuant to a previously established Rule 10b5-1 plan. After the reported transaction, Mr. Fogassa is shown as beneficially owning 4,689,284 shares directly and an additional 105,608 shares indirectly through entities he controls. The Form 4 is signed by the reporting person on 09/24/2025.

Positive

• Transaction executed under a Rule 10b5-1 plan, indicating pre-established trading parameters
• Substantial residual ownership remains: 4,689,284 shares directly and 105,608 indirectly
• Clear disclosure of sale price ($4.6498) and exact share counts, filed and signed on 09/24/2025

Negative

• Insider sold shares (27,280 shares), which some investors may view negatively despite plan-based execution

Insights

Corporate Governance Expert

TL;DR: Insider sale executed under a Rule 10b5-1 plan; large residual ownership remains, suggesting routine liquidity rather than a control change.

The sale of 27,280 shares was disclosed on Form 4 and explicitly attributed to execution by Goldman Sachs under a previously established Rule 10b5-1 plan. Use of a pre-established trading plan typically indicates the transaction followed predetermined parameters rather than opportunistic timing. Material governance point: Mr. Fogassa continues to hold a substantial direct stake of 4,689,284 shares plus 105,608 indirectly, preserving his alignment with shareholders and control influence. Disclosure appears timely and complete for the single transaction reported.

Securities Analyst

TL;DR: Small insider disposition relative to total holdings; transaction details are transparent but provide limited market-impact information.

From a securities perspective, the 27,280-share disposition at $4.6498 is modest compared with Mr. Fogassa's total direct holdings (4.689 million shares), representing a de minimis percentage of his position. The filing confirms the sale mechanics (10b5-1 plan via Goldman Sachs) and reports remaining direct and indirect holdings. There is no derivative activity disclosed. This single Form 4 provides concrete transaction data but no new operational or financial metrics to reassess company valuation.

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

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

1. Name and Address of Reporting Person^*

Fogassa Marc

(Last) (First) (Middle)

1200 N. FEDERAL HWY,

SUITE 200

(Street)

BOCA RATON FL 33432

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Atlas Lithium Corp [ ATLX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/22/2025

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	09/22/2025		D		27,280	D(1)	$4.6498	4,689,284	D
Common Stock								105,608	I	See footnote(2)

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

Explanation of Responses:

1. Disposition effected by Goldman Sachs & Co. LLC pursuant to a previously established Rule 10b5-1 plan

2. Common stock held indirectly by entities controlled by the reporting person.

	/s/ Marc Fogassa	09/24/2025
	** 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 Marc Fogassa report on Form 4 for ATLX?

He reported a disposition of 27,280 shares of Atlas Lithium Corp common stock executed on 09/22/2025 at $4.6498 per share.

Was the sale by Marc Fogassa part of a trading plan?

Yes. The filing states the sale was effected by Goldman Sachs & Co. LLC pursuant to a previously established Rule 10b5-1 plan.

How many Atlas Lithium (ATLX) shares does Marc Fogassa own after the reported sale?

He beneficially owns 4,689,284 shares directly and an additional 105,608 shares indirectly through entities he controls.

Does the Form 4 show any derivative transactions for Mr. Fogassa?

No. Table II (derivative securities) contains no reported transactions or holdings.

When was the Form 4 signed by the reporting person?

It was signed on 09/24/2025 by Marc Fogassa.