Atlas Lithium director disposes 50k shares; Rule 10b5-1 cited

Rhea-AI Filing Summary

Atlas Lithium Corp (ATLX) director Roger Noriega reported five separate dispositions of common stock on 09/26/2025, selling a total of 50,000 shares in 10,000-share lots at prices ranging from $5.00 to $5.13. Each sale is reported as a direct disposition and the beneficial ownership declined to 280,194 shares after the transactions. The Form 4 states the dispositions were effected by Wilson Davis pursuant to a previously established Rule 10b5-1 plan. The form is signed by Roger Noriega on 09/29/2025.

Positive

• Full, timely disclosure of insider transactions on Form 4
• Sales executed under a Rule 10b5-1 plan, indicating preplanned transactions and procedural compliance

Negative

• Director's direct holdings fell by 50,000 shares, reducing beneficial ownership to 280,194 shares
• Multiple disposals on the same date may prompt investor questions about insider liquidity

Insights

Securities Analyst

TL;DR: Director executed routine sales under a 10b5-1 plan, reducing direct holdings by 50,000 shares; no new derivatives or unusual items disclosed.

The filing shows five scheduled dispositions of common stock on 09/26/2025 totaling 50,000 shares sold in 10,000-share tranches at prices between $5.00 and $5.13. All transactions are direct and identified as effected under a previously established Rule 10b5-1 plan, which typically indicates pre-arranged, non-discretionary sales. There are no derivative transactions or additional material disclosures in this Form 4, so the immediate market impact is likely limited absent other news.

Corporate Governance Expert

TL;DR: Insider sale complies with reporting rules and cites a Rule 10b5-1 plan, suggesting procedural adherence but reduces director's stake.

The Form 4 is clear that Roger Noriega, a director, executed five direct dispositions on a single date under a Rule 10b5-1 plan, which provides affirmative defenses against insider trading claims when properly adopted. The disclosure and manual signature indicate regulatory compliance. The director's beneficial ownership decreased by 50,000 shares to 280,194, a quantifiable ownership change investors can track for governance context. No indications of amendments or other governance issues are presented.

Insider Trade Summary

Net Seller: 50,000 shares ($253,206)

Net Sell 5 txns

Insider Noriega Roger

Role Director

Sold 50,000 shs ($253K)

Type	Security	Shares	Price	Value
Sale	Common Stock	10,000	$5.00	$50K
Sale	Common Stock	10,000	$5.04	$50K
Sale	Common Stock	10,000	$5.0606	$51K
Sale	Common Stock	10,000	$5.09	$51K
Sale	Common Stock	10,000	$5.13	$51K

Holdings After Transaction: Common Stock — 320,194 shares (Direct)

Footnotes (1)

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).

1. Name and Address of Reporting Person^*

Noriega Roger

(Last) (First) (Middle)

1150 K. ST, N.W. #1411

(Street)

WASHINGTON DC 20005

(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		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/26/2025

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	09/26/2025	09/26/2025	S	V	10,000	D	$5	320,194	D
Common Stock	09/26/2025	09/26/2025	S	V	10,000	D	$5.04	310,194	D
Common Stock	09/26/2025	09/26/2025	S	V	10,000	D	$5.0606	300,194	D
Common Stock	09/26/2025	09/26/2025	S	V	10,000	D	$5.09	290,194	D
Common Stock	09/26/2025	09/26/2025	S	V	10,000	D	$5.13	280,194	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

Explanation of Responses:

Remarks:

Disposition effected by Wilson Davis pursuant to a previously established Rule 10b5-1 plan

	/s/ Roger Noriega	09/29/2025
	** 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 Roger Noriega (ATLX) report on Form 4?

He reported five direct dispositions on 09/26/2025, selling a total of 50,000 shares in 10,000-share lots at prices from $5.00 to $5.13.

Were the sales by the ATLX director part of an automated plan?

Yes. The Form 4 states the dispositions were effected by Wilson Davis pursuant to a previously established Rule 10b5-1 plan.

What is Roger Noriega's beneficial ownership after these transactions?

The filing shows beneficial ownership of 280,194 shares following the reported sales.

When was the Form 4 signed and filed?

The signature block shows Roger Noriega signed the form on 09/29/2025.

Did the Form 4 disclose any derivative transactions or other securities?

No. Table II for derivative securities contains no entries; only non-derivative common stock dispositions are reported.