Atlas Lithium (ATLX) Form 4: Fogassa Disposes 150,180 Shares via 10b5-1

Rhea-AI Filing Summary

Marc Fogassa, identified as a director, chief executive officer and a 10% owner of Atlas Lithium Corp (ATLX), reported a sale of common stock on 08/06/2025. The Form 4 shows a disposition of 150,180 common shares at a reported price of $5.8828 per share. The filing states the disposition was effected by Goldman Sachs & Co. LLC pursuant to a previously established Rule 10b5-1 plan. After the reported transaction, the disclosure lists 4,749,897 shares beneficially owned directly and 105,608 shares held indirectly by entities controlled by the reporting person. The report shows no derivative transactions.

Positive

• Disposition was executed under a previously established Rule 10b5-1 plan, indicating a pre-authorized trading arrangement
• Reporting person retains substantial ownership: 4,749,897 shares direct and 105,608 shares indirect, demonstrating continued alignment with shareholders
• Broker execution disclosed: Goldman Sachs & Co. LLC is named as the executing broker

Negative

• Reported sale of 150,180 common shares on 08/06/2025 at $5.8828 per share, which may be viewed negatively by some investors
• No details provided on percentage of total outstanding shares sold, so relative scale of the sale versus company float is not disclosed in this filing

Insights

Financial Analyst

TL;DR: Insider sale executed under a 10b5-1 plan; Fogassa retains a large direct stake, so market impact appears neutral.

The Form 4 documents a sale of 150,180 common shares at $5.8828 per share executed by Goldman Sachs under a pre-established Rule 10b5-1 plan. The reporting person still directly holds 4,749,897 shares and indirectly holds 105,608 shares. There are no derivative securities reported. From a financial perspective, the sale is transparent and pre-planned, and the substantial remaining direct ownership suggests continued alignment with shareholder value, supporting a neutral short-term investor reaction.

Corporate Governance Expert

TL;DR: Transaction follows a documented trading plan and was broker-executed, reducing signaling concerns; governance continuity remains intact.

The filing explicitly states the disposition was effected by Goldman Sachs & Co. LLC pursuant to a previously established Rule 10b5-1 plan, which indicates the trade was pre-authorized rather than opportunistic. The report also discloses substantial continuing ownership: 4,749,897 shares direct and 105,608 shares indirect. No derivative positions are reported, and no other governance changes or related-party transactions are disclosed in this Form 4.

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)
08/06/2025

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	08/06/2025		D		150,180	D(1)	$5.8828	4,749,897	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	08/08/2025
	** 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 insider transaction did Marc Fogassa report for ATLX?

The Form 4 shows a disposition of 150,180 common shares at $5.8828 per share executed on 08/06/2025.

Was the ATLX sale part of a 10b5-1 plan?

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

How many ATLX shares does Marc Fogassa still beneficially own?

Following the reported transaction, the filing lists 4,749,897 shares beneficially owned directly and 105,608 shares held indirectly.

Did Marc Fogassa report any derivative transactions in the Form 4?

No. Table II for derivative securities is blank and the filing notes only common stock ownership and the reported disposition.

Who executed the sale reported on the ATLX Form 4?

The filing identifies Goldman Sachs & Co. LLC as the party that effected the disposition.