[Form 4] ATN International, Inc Insider Trading Activity

Rhea-AI Filing Summary

Credo Technology Group Holding Ltd (NASDAQ: CRDO) has received a Form 144 filing indicating a planned disposition of 80,000 common shares.

Key details are as follows:

• Filer/Account holder: Walden Technology Ventures II LP (address in Grand Cayman).
• Broker: Morgan Stanley Smith Barney LLC, Executive Financial Services, New York, NY.
• Class: Common stock.
• Approximate sale date: 24 Jun 2025, on the NASDAQ exchange.
• Aggregate market value of planned sale: US$7,261,816, implying an indicative price of about US$90.77 per share.
• Shares outstanding: 169,801,216, so the planned sale equals roughly 0.05 % of CRDO’s total shares.

The filing also discloses that the shares were originally acquired directly from the issuer on 8 Dec 2017 (58,770 shares) and 22 Dec 2020 (21,230 shares) for cash consideration.

Recent trading activity: Over the last three months Walden Technology Ventures II LP has already sold 404,297 CRDO shares in five transactions, generating cumulative gross proceeds of roughly US$31.5 million. The largest single sale was 171,473 shares on 16 Jun 2025.

Because Rule 144 notices are intent to sell filings, the shares may or may not ultimately be sold, and no pricing information beyond the aggregate value is provided. The proposed volume is small relative to CRDO’s float, suggesting limited direct market impact, but continuing distributions by a venture-capital holder may be noteworthy to investors monitoring insider supply dynamics.

Positive

• None.

Negative

• 80,000-share planned sale represents additional insider supply, though only ~0.05 % of shares outstanding.
• Walden Technology Ventures II LP has already sold 404,297 shares (≈0.24 % of float) in the past three months, indicating a continuing disposal trend.

Insights

Securities Analyst

TL;DR: VC fund files to sell 80k CRDO shares (0.05% o/s); modest size, signals ongoing exit but limited immediate price pressure.

The Form 144 shows Walden Technology Ventures II LP intends to liquidate another 80,000 CRDO shares at an estimated US$7.26 million. Combined with 404,297 shares already sold since April, the fund will have trimmed roughly 0.29 % of shares outstanding. Such volumes are minor compared with average daily trading, so mechanical impact should be negligible. Nevertheless, steady VC distribution indicates a gradual monetisation of an early position, which some investors may interpret as routine portfolio management rather than a statement on fundamentals. No operational or earnings data accompanies the filing, so this notice has neutral fundamental relevance.

Portfolio Manager

TL;DR: Continued selling by early investor adds incremental supply; size small but directionally negative for sentiment.

From a portfolio-allocation perspective, insider supply—even in small tranches—creates overhang risk. Walden’s planned 80k-share sale follows five recent disposals totalling 404k shares, suggesting a programmatic exit. Although sub-0.3 % of float, repeated notices can weigh on momentum traders who monitor insider activity. Importantly, the form confirms no material undisclosed adverse information, limiting the read-through to sentiment only. I view the event as slightly negative, yet not sufficiently large to alter valuation models or position sizing.

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^*

Hudson Derek

(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)	14,959	D
Common Stock	06/17/2025		F(2)		2,590	D	$15.06	12,369	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 Mr. Hudson'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.

2. Represents shares withheld by the Company for payment of Mr. Hudson's tax obligations.

	/s/ Andrew S. Fienberg as Attorney in-fact for Derek Hudson	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.
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

How many CRDO shares are covered by the latest Form 144 filing?

The notice covers 80,000 common shares of Credo Technology Group Holding Ltd.

What is the aggregate market value of the proposed CRDO share sale?

The filing lists an aggregate market value of US$7,261,816 for the 80,000 shares.

Which broker will execute the CRDO share sale under this Form 144?

Morgan Stanley Smith Barney LLC, Executive Financial Services, is named as the broker.

What percentage of Credo Technology’s outstanding shares does 80,000 shares represent?

The planned sale equals approximately 0.05 % of the 169,801,216 shares outstanding.

How many CRDO shares has Walden Technology Ventures II LP sold in the last three months?

The fund sold 404,297 common shares in five transactions between 5 Jun 2025 and 18 Jun 2025.

When were the shares to be sold originally acquired?

58,770 shares were acquired on 8 Dec 2017 and 21,230 shares on 22 Dec 2020, both directly from the issuer for cash.