Piedmont (PLL) Director Reports 9,315-Share Disposition After Merger Conversion

Rhea-AI Filing Summary

Christina M. Alvord, a director of Piedmont Lithium Inc. (PLL), reported the disposition of 9,315 shares of Piedmont common stock on 08/29/2025, leaving her with 0 shares beneficially owned following the transaction. The Form 4 discloses that the disposition relates to the previously announced merger agreement among Piedmont, Sayona Mining Limited and Shock MergeCo Inc., under which each Piedmont share was converted into the right to receive 527 ordinary shares of Sayona. The filing indicates the sale/disposition was reported under transaction code D and lists the reporting person’s address as Belmont, North Carolina. No derivative securities or other holdings are reported on this Form 4.

Positive

• Timely SEC disclosure of insider transaction in compliance with Section 16 reporting
• Transaction tied to a disclosed merger agreement, providing context for the disposition

Negative

• Reporting director shows zero Piedmont common stock ownership after the disposition, which could reduce direct alignment with PLL shareholders
• No price or proceeds disclosed for the disposition on this Form 4, and no information on resulting Sayona holdings is provided

Insights

Corporate Governance Expert

TL;DR: Director sold all reported Piedmont shares amid the merger, removing direct ownership and potentially altering governance alignment.

The Form 4 shows a complete reported disposition of 9,315 Piedmont common shares by Director Christina Alvord, resulting in zero reported direct ownership. From a governance standpoint, a director without direct stock ownership following a transaction can weaken alignment with shareholders unless replaced by equivalent Sayona holdings, which are not recorded here. The filing ties the disposition to the Merger Agreement converting Piedmont shares into Sayona ordinary shares; however, this Form 4 does not disclose any resulting Sayona holdings or whether ownership continued in another form. Impact rating: 0 (neutral).

Securities Analyst

TL;DR: Transaction documents conversion under the merger; the Form 4 reports a reported sale/disposition of 9,315 shares and zero remaining Piedmont shares.

The report records transaction code D for a disposition of 9,315 Piedmont shares on 08/29/2025, leaving the reporting person with no Piedmont shares. The explanatory note clarifies the Merger converted each Piedmont share into rights to 527 Sayona ordinary shares, indicating the disposition likely reflects post-merger share mechanics. The filing contains no price per share, proceeds, or details on any Sayona ownership. For investors, the key takeaway is that the director no longer reports Piedmont common stock ownership on Form 4; material financial terms of any conversion are not provided in this form. Impact rating: 0 (neutral).

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

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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^*

Alvord Christina M

(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)		9,315	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/ Christina M. Alvord	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).
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FAQ

What did Christina M. Alvord report on the Form 4 for PLL?

She reported a disposition of 9,315 Piedmont common shares on 08/29/2025, leaving her with 0 shares beneficially owned.

Why does the Form 4 mention Sayona Mining in the explanation?

The filing explains a Merger Agreement under which each Piedmont share was converted into the right to receive 527 Sayona ordinary shares.

Does the Form 4 report any derivative securities or options for the reporting person?

No. Table II for derivative securities shows no reported derivative holdings on this Form 4.

Is the disposition reported at a sale price or with proceeds shown?

No. The Form 4 lists transaction code D and the number of shares disposed but does not disclose a per-share price or sale proceeds.

Does the Form 4 indicate whether the director received Sayona shares after the merger?

No. The explanatory note describes the conversion formula but the Form 4 does not report any resulting Sayona holdings.