Form 4: Atlassian CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Plan

Atlassian CEO Michael Cannon-Brookes sold Class A Common Stock on September 30, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp, executed multiple sales of Class A Common Stock on September 30, 2024.
• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved both direct and indirect holdings through the Cannon-Brookes Head Trust.
• The weighted average sale prices ranged from $158.5723 to $161.3354 per share.
• A total of 431 shares were sold directly at a weighted average price of $161.3354.
• A total of 2,622 shares were sold directly at a weighted average price of $160.3419.
• A total of 1,204 shares were sold directly at a weighted average price of $159.6236.
• A total of 3,691 shares were sold directly at a weighted average price of $158.5723.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports stock sales under a pre-existing 10b5-1 plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Positives

• The sales were conducted under a pre-arranged 10b5-1 trading plan, which is a legal and transparent way for insiders to sell shares.

Risks

• Executive stock sales can sometimes be perceived negatively by investors, although the existence of a 10b5-1 plan mitigates this concern.

Industry Context

Insider sales are a common occurrence in publicly traded companies, and the use of 10b5-1 plans is a standard practice to avoid accusations of insider trading. Investors often monitor these transactions for insights into management's perspective on the company's valuation and future prospects.

Key Dates