Atlas Lithium CEO executes planned sale; retains 4.7M shares

Rhea-AI Filing Summary

Atlas Lithium Corp director, CEO and ~10% owner Marc Fogassa reported a planned disposition of 33,333 shares of common stock on 08/27/2025, executed by Goldman Sachs & Co. LLC under a previously established Rule 10b5-1 plan. Following the sale, Fogassa directly beneficially owns 4,716,564 shares and indirectly holds 105,608 shares through entities he controls. The form confirms the transaction was part of a pre-existing trading plan and discloses his dual roles as an officer and significant shareholder.

Positive

• Transaction executed under Rule 10b5-1, indicating a pre-established, non-discretionary trading plan
• Reporting person retains a large direct stake of 4,716,564 shares after the sale, maintaining alignment with shareholders

Negative

• Insider sold 33,333 shares, which could draw investor attention despite being part of a 10b5-1 plan
• Filing discloses both direct and indirect holdings, but does not provide context on percentage ownership or total outstanding shares

Insights

Corporate Governance Expert

TL;DR: Insider sale was executed under a 10b5-1 plan, indicating a pre-planned, non-discretionary transaction rather than opportunistic timing.

The filing shows the reporting person is both CEO and a substantial shareholder, which keeps alignment with shareholders intact given the large retained stake of over 4.7 million shares. The use of a 10b5-1 plan reduces concerns about selective insider timing, but governance observers may still note the sale when evaluating insider confidence. Disclosure appears complete for the reported non-derivative transaction.

Securities Analyst

TL;DR: The small disposition relative to total holdings is unlikely to materially affect valuation; it's a routine liquidity event under a trading plan.

The reported 33,333-share sale at a reported price of $5.3355 per share was executed via Goldman Sachs under a 10b5-1 plan, indicating pre-clearance. Post-transaction direct ownership remains sizable at 4,716,564 shares, with an additional 105,608 shares indirectly held. From a market-impact perspective, this level of disposition is immaterial relative to large insider holdings and does not, by itself, signal a change in corporate outlook.

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^*

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)
08/27/2025

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	08/27/2025		D		33,333	D(1)	$5.3355	4,716,564	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	08/29/2025
	** 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 Marc Fogassa report on Form 4 for ATLX?

He reported a sale of 33,333 shares of Atlas Lithium common stock executed on 08/27/2025 under a 10b5-1 plan.

How many ATLX shares does Marc Fogassa own after the reported transaction?

Directly beneficially owns 4,716,564 shares and indirectly holds 105,608 shares through entities he controls.

Was the sale by the ATLX insider discretionary?

No, the disposition was effected by Goldman Sachs & Co. LLC pursuant to a previously established Rule 10b5-1 plan.

What price was reported for the ATLX share sale?

The Form 4 lists a price of $5.3355 per share for the 33,333-share disposition.

What roles does the reporting person hold at Atlas Lithium (ATLX)?

Marc Fogassa is reported as Director, Chief Executive Officer, and a 10% owner of the issuer.