Piedmont Director Reports 0 PLL Shares Following Sayona Merger Conversion

Rhea-AI Filing Summary

Piedmont Lithium Inc. insider filing shows a post-merger conversion and resulting disposition. Director Dawne S. Hickton reported a disposition of 7,724 shares of Piedmont common stock on 08/29/2025, leaving her with 0 shares reported beneficially owned after the transaction. The filing explains this resulted from the previously disclosed Agreement and Plan of Merger dated November 18, 2024, under which each Piedmont common share was converted into the right to receive 527 ordinary shares of Sayona Mining Limited at the effective time of the merger. The Form 4 is a single-person filing and is signed by the reporting person.

Positive

• Transaction is explicitly tied to the Merger Agreement, clarifying the reason for the ownership change
• Reporting person complied with Section 16 reporting and filed a signed Form 4

Negative

• Reporting person holds 0 Piedmont common shares following the reported transaction
• Form 4 does not state the dollar value or trading price of the converted or received securities

Insights

Financial Analyst

TL;DR: Director disposed of all reported Piedmont shares as part of the announced merger conversion.

The Form 4 documents a mechanical disposition tied to the Merger Agreement rather than an ordinary open-market sale. The conversion ratio—each Piedmont share into 527 Sayona ordinary shares—is explicit and explains why the reporting person shows 0 Piedmont shares post-transaction. For investors, this is a corporate-transaction driven ownership change, not necessarily a signal about the director's view of future prospects. The filing contains no price information for non-derivative trades because the disposition was effected by conversion under the merger terms.

Corporate Governance Expert

TL;DR: Transaction reflects compliance with merger mechanics and Section 16 reporting requirements.

The disclosure is clear that the disposition stems from the Merger Agreement among Piedmont, Sayona and Merger Sub. The reporting person checked the box indicating a director relationship and filed individually. The Form 4 properly reports the change in beneficial ownership to zero and includes the explanatory Merger Agreement language, which supports transparency around the corporate action. No additional governance irregularities are evident from the filing text provided.

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^*

HICKTON DAWNE S

(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)		7,724	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/ Dawne S. Hickton	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 Dawne S. Hickton report on the Form 4 for PLL?

The Form 4 reports a disposition of 7,724 Piedmont common shares on 08/29/2025, leaving 0 shares beneficially owned.

Why were the Piedmont shares disposed of according to the filing?

The filing explains the disposition resulted from the Merger Agreement dated November 18, 2024, under which Piedmont shares were converted into Sayona ordinary shares.

What conversion ratio was disclosed in the Form 4?

Each Piedmont common share was converted into the right to receive 527 ordinary shares of Sayona Mining Limited at the effective time of the merger.

Does the Form 4 show any remaining Piedmont ownership by the reporting person?

No. The filing reports the reporting person beneficially owns 0 Piedmont common shares after the transaction.

Was the Form 4 filed individually or jointly?

The box indicates this is a Form filed by One Reporting Person (individual filing).