Piedmont Director Reports 42,421-Share Disposition Linked to Sayona Merger

Rhea-AI Filing Summary

Jorge Beristain, a director of Piedmont Lithium Inc. (PLL), reported a disposal of 42,421 shares of Piedmont common stock on 08/29/2025. The Form 4 shows that following the reported transaction the reporting person beneficially owns 0 shares of Piedmont common stock. The filing explains this action occurred in connection with the November 18, 2024 merger agreement under which each Piedmont share was converted into the right to receive 527 ordinary shares of Sayona Mining Limited, reflecting a corporate reorganization rather than an isolated open-market sale.

Positive

• Transaction is explicitly tied to the Merger Agreement converting Piedmont shares into Sayona ordinary shares
• Form 4 discloses the director-level transaction, supporting regulatory transparency

Negative

• Reporting person disposed of 42,421 Piedmont common shares and now reports 0 shares beneficially owned
• The filing does not state the number of Sayona ordinary shares received by the reporting person or disclose proceeds or continued economic exposure

Insights

Financial Analyst

TL;DR: Director disposed of 42,421 Piedmont shares as part of the merger conversion; post-transaction Piedmont ownership is zero.

The Form 4 documents a non-derivative disposition of 42,421 Piedmont common shares by director Jorge Beristain dated 08/29/2025, leaving him with no beneficial ownership of Piedmont common stock. The explanatory note ties the transaction to the Merger Agreement dated 11/18/2024 that converted each Piedmont share into the right to 527 ordinary shares of Sayona Mining Limited. As presented, this is a corporate reorganization outcome rather than a routine sale; the filing does not disclose proceeds, tax treatment, or the number of Sayona shares received by the reporting person.

Corporate Governance Expert

TL;DR: Transaction reflects ownership conversion under the merger; disclosure is standard but leaves post-merger Sayona holdings unspecified.

The Form 4 complies with Section 16 reporting by noting a disposition of 42,421 Piedmont shares and showing zero Piedmont shares remaining beneficially owned by the director. The form’s explanation links the disposition to the Merger Agreement converting Piedmont shares into Sayona ordinary shares, which is a material corporate event. The filing does not provide details on indirect holdings, any continuing ties to the combined company, or whether the director retains economic exposure via Sayona shares or other instruments.

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

X

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^*

Beristain Jorge

(Last) (First) (Middle)

C/O PIEDMONT LITHIUM INC.

42 E CATAWBA STREET

(Street)

BELMONT NC 28012

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Piedmont Lithium Inc. [ PLL ]

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)
08/29/2025

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, par value $0.0001	08/29/2025		D(1)		42,421	D	(1)	0	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. Piedmont Lithium Inc. ("Piedmont"), Sayona Mining Limited ("Sayona") and Shock MergeCo Inc. ("Merger Sub") are parties to the Agreement and Plan of Merger, dated as of November 18, 2024 (the "Merger Agreement"), pursuant to which, among other things, Merger Sub was merged with and into Piedmont (the "Merger"). Pursuant to the Merger Agreement, at the effective time of the Merger, each share of common stock of Piedmont was converted into the right to receive 527 ordinary shares of Sayona.

	/s/ Jorge Beristain	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 Jorge Beristain report on the Form 4 for PLL?

He reported a disposition of 42,421 Piedmont common shares on 08/29/2025, resulting in 0 Piedmont shares beneficially owned.

Why were Piedmont shares disposed according to the filing?

The filing explains the disposition arose from the Merger Agreement dated 11/18/2024 that converted each Piedmont share into the right to receive 527 Sayona ordinary shares.

Does the Form 4 disclose how many Sayona shares the reporting person received?

No. The Form 4 explains the conversion ratio but does not state the number of Sayona ordinary shares received by Jorge Beristain.

Did the Form 4 report any derivative transactions or retained Piedmont holdings?

No. Table II shows no derivative securities and Table I reports a disposition leaving 0 Piedmont common shares.

When was the underlying Merger Agreement executed?

The filing references a Merger Agreement dated November 18, 2024.