[Form 4] ATN International, Inc Insider Trading Activity

Rhea-AI Filing Summary

ATN International, Inc. (ATNI) – Form 4 Insider Filing

On 06/17/2025, director April V. Henry received 8,632 fully-vested shares of ATNI common stock under the company’s 2023 Equity Incentive Plan. The award represents payment of her 2025 annual director retainer and was valued using the twenty-day moving average share price of $15.06 as of 06/13/2025.

Following the grant, Henry’s total beneficial ownership increased to 21,550 shares, held directly. The filing was submitted as a single-reporting-person Form 4 and was signed by attorney-in-fact Andrew S. Fienberg on 06/20/2025.

The transaction is classified as an “A” (acquisition) code, indicating a stock award rather than an open-market purchase. Although routine in nature, the grant marginally raises insider ownership, which some investors view as an alignment signal. No derivative securities or additional transactions were reported.

Positive

• 8,632 new shares awarded to a director increase insider ownership to 21,550, improving management-shareholder alignment.

Negative

• Minor share dilution from equity issuance, though the impact is immaterial given ATNI’s share count.

Insights

Corporate Governance Expert

TL;DR: Routine director stock grant; modestly aligns incentives, negligible dilution, limited market impact.

This Form 4 reports a standard annual equity retainer for an outside director. Because the shares are fully vested at grant, they immediately increase Ms. Henry’s voting and economic stake, bringing her direct holdings to 21,550 shares. The award value (~$130,000) is immaterial to ATNI’s market capitalization, and the share count increment is de minimis for existing shareholders. Governance-wise, equity retainers are common practice and generally viewed as positive for board alignment, though investors typically react only to discretionary open-market insider buys. Overall, the filing is informative but not materially price-moving.

Equity Portfolio Manager

TL;DR: Insider ownership ticks up; signal mildly positive but too small to influence position sizing.

While any increase in insider holdings can be viewed favorably, this grant is compensation-linked, not a discretionary purchase, so signalling value is modest. Still, with ATNI shares around $15, the ~$0.13 M award adds skin in the game for a board member. I would categorize the event as a low-impact positive, insufficient on its own to alter portfolio weighting but supportive when combined with other bullish factors such as operational execution or valuation upside.

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
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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).

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^*

Henry April

(Last) (First) (Middle)

C/O ATN INTERNATIONAL, INC.

500 CUMMINGS CENTER, SUITE 2450

(Street)

BEVERLY MA 01915

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ATN International, Inc. [ ATNI ]

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)
06/17/2025

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	06/17/2025		A		8,632	A	$15.06(1)	21,550	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:

1. Represents fully vested shares of restricted stock grant pursuant to the Issuer's 2023 Equity Incentive Plan in payment of Ms. Henry's 2025 annual director retainer based on the moving average price for the past twenty days of $15.06 of the Issuer's common stock as of June 13, 2025.

	/s/ Andrew S. Fienberg as Attorney in-fact for April V. Henry	06/20/2025
	** 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.
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FAQ

How many ATNI shares did director April Henry acquire according to the Form 4?

She received 8,632 fully-vested shares of ATNI common stock.

What price was used to determine the number of shares granted to April Henry?

The grant was based on the $15.06 twenty-day moving average price as of 06/13/2025.

What is April Henry’s total beneficial ownership in ATNI after the reported transaction?

Her holdings increased to 21,550 shares, all held directly.

Was the transaction part of a compensation plan?

Yes. The shares were granted under ATNI’s 2023 Equity Incentive Plan as her 2025 director retainer.

When did the insider transaction occur and when was the Form 4 filed?

The transaction date was 06/17/2025; the Form 4 was signed and filed on 06/20/2025.