Piedmont (PLL) Form 4 Details: 527-for-1 Conversion, Options Reported

Rhea-AI Filing Summary

Bruce Czachor, EVP, CLO & Secretary of Piedmont Lithium Inc. (PLL), reported multiple transactions on 08/29/2025. He acquired 33,410 shares of Piedmont common stock and reported beneficial ownership of 63,476 shares following the acquisition, then disposed of 63,476 shares as part of the same reporting sequence. Several Piedmont stock options were reported as disposed: options with exercise prices $16, $67.50, $55, $55 and $65 covering 41,263; 7,259; 9,069; 15,871; and 2,157 underlying shares, respectively, with various exercisable and expiration dates through 2034. The disclosure explains all transactions were affected by the Merger Agreement among Piedmont, Sayona and Shock MergeCo, effective at the merger, which converted Piedmont equity and awards into Sayona ordinary shares using a 527-for-1 exchange ratio and caused certain performance stock units to be deemed satisfied.

Positive

• Disclosure tied to the Merger Agreement clarifies conversion mechanics and treatment of performance stock units, improving transparency
• Detailed option and vesting information provided for multiple strike prices and expiration dates

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider reported acquisitions and corresponding disposals tied to the merger conversion of Piedmont awards into Sayona shares at a 527:1 ratio.

The Form 4 shows a complex post-merger adjustment rather than an ordinary open-market purchase or sale. The acquisition of 33,410 shares and simultaneous disposal of 63,476 shares appear to reflect conversion mechanics and award settlements under the Merger Agreement, not standalone trading decisions. Multiple stock options were converted and marked as disposed, with detailed exercise prices and vesting histories provided. For investors, this filing documents insider ownership changes driven by corporate transaction mechanics rather than new business developments.

Corporate Governance Specialist

TL;DR: Transactions are administrative effects of the Merger Agreement converting equity and awards into Sayona securities.

The explanatory notes confirm performance stock units were deemed satisfied at the merger effective time and that each Piedmont share, RSU and option converted into rights to 527 Sayona ordinary shares. Vesting schedules for certain options are disclosed, and the filing is signed by the reporting person. This filing fulfills Section 16 reporting obligations after a corporate combination and documents the treatment of insider awards; it does not assert new compensation grants or independent transfers outside the merger context.

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^*

Czachor Bruce

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, CLO & Secretary

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		A(1)		33,410	A	$0	63,476	D
Common Stock, par value $0.0001	08/29/2025		D(2)		63,476	D	(2)	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
Stock Option (right to buy)	$16	08/29/2025		D(3)			41,263	12/31/2026	03/04/2034	Common Stock, par value $0.0001	41,263	(3)	0	D
Stock Option (right to buy)	$67.5	08/29/2025		D(3)			7,259	12/31/2025	03/07/2033	Common Stock, par value $0.0001	7,259	(3)	0	D
Stock Option (right to buy)	$55	08/29/2025		D(3)			9,069	(4)	02/28/2032	Common Stock, par value $0.0001	9,069	(3)	0	D
Stock Option (right to buy)	$55	08/29/2025		D(3)			15,871	12/31/2024	02/28/2032	Common Stock, par value $0.0001	15,871	(3)	0	D
Stock Option (right to buy)	$65	08/29/2025		D(3)			2,157	(5)	05/19/2031	Common Stock, par value $0.0001	2,157	(3)	0	D

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, the performance conditions underlying these performance stock units were deemed satisfied based on the greater of target or actual performance at the effective time of the Merger.

2. At the effective time of the Merger, (i) each share of common stock of Piedmont was converted into the right to receive 527 ordinary shares of Sayona and (ii) each restricted stock unit of Piedmont was converted into 527 restricted stock units of Sayona.

3. At the effective time of the Merger, each stock option to purchase a share of common stock of Piedmont was converted into a stock option to purchase 527 ordinary shares of Sayona.

4. These stock options vested in three equal annual installments on December 31, 2022, December 31, 2023 and December 31, 2024.

5. These stock options vested in three equal annual installments on December 31, 2021, December 31, 2022 and December 31, 2023.

	/s/ Bruce Czachor	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 Bruce Czachor report on Form 4 for PLL?

He reported acquiring 33,410 Piedmont common shares and reporting beneficial ownership of 63,476 shares, plus dispositions and conversions of multiple stock options on 08/29/2025.

How were Piedmont securities treated in the merger described in the filing?

At the effective time of the merger, each Piedmont common share, restricted stock unit and stock option was converted into the right to receive 527 ordinary shares of Sayona or equivalent converted awards.

Which stock option strike prices and underlying share amounts were reported?

Options reported disposed included strikes of $16 (41,263 shares), $67.50 (7,259), $55 (9,069 and 15,871) and $65 (2,157) with exercisable and expiration dates through 03/04/2034.

Were any performance stock units affected by the merger?

Yes. The filing states performance stock units were deemed satisfied at the merger effective time based on the greater of target or actual performance, per the Merger Agreement.

Does the Form 4 show open-market trading by the insider?

No. The filing attributes the reported acquisitions and disposals to conversion and settlement actions under the Merger Agreement rather than independent open-market trades.