Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 176

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 176
---
 of the Merger until 12 months after closing of the Merger; and (iv) the lock -upshall terminate 12 months after closing of the Merger and (B) the lock -upshall not apply to the extent shares of Atlantic common stock must be sold to pay any taxes from such applicable holder. Joe Yelenic, an executive officer, of Staffing 360, also holds 31,050shares of Series H Preferred Stock, as of November30, 2024. Series I Preferred Stock Ownership At the effective time of the Merger, all outstanding shares of Series I Preferred Stock of Staffing 360 will convert into shares of Atlantic International common stock at the applicable Exchange Ratio. Pursuant to the First Amendment and further agreement between the applicable parties, Jackson shall enter into a lock -upagreement such that the Merger Consideration for all of the Series I Preferred Stock are subject to a lock up period for the one year after the closing of the Merger, provided, however, that 600,000shares of Merger Consideration shall be freely tradable following the closing of the Merger.

97

Stock Options At the Effective Time of the Merger, each outstanding option to purchase Staffing 360 common stock that is outstanding and has not been exercised prior to the closing of the Merger, whether or not vested, will be assumed by Atlantic International, subject to certain terms contained in the Merger Agreement, and become an option to purchase a number of shares of Atlantic International common stock equal to the number of shares of Staffing 360 common stock underlying such option multipliedby the Exchange Ratio, and the exercise price for each share of Atlantic International common stock underlying an assumed option to purchase Staffing 360 common stock will be equal to the exercise price per share of the option to purchase Staffing 360 common stock in effect immediately prior to the completion of the Merger dividedby the Exchange Ratio, rounded up to the nearest whole cent. The table below sets forth information regarding the Staffing 360 stock options held as of November30, 2024, by each of Staffing 360’s current executive officers, directors, and their affiliates.

| Option holder |     |    Number of 
    Shares of 
 Common Stock 
   Subject to 
 Staffing 360 
      Options |     | Exercise 
 Price    |      |     | Grant     
 Date      |
|:--------------|:----|-------------:|:----|:---------|-----:|:----|:----------|