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

Atlassian CEO Michael Cannon-Brookes sold shares of Class A Common Stock on September 6, 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 6, 2024.
• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved the sale of 1,470 shares at a weighted-average price of $160.4541, 1,525 shares at $162.3206, 400 shares at $163.4663, 753 shares at $159.5127, 3,750 shares at $161.4637 and 50 shares at $165.13.
• Following these transactions, Cannon-Brookes directly owns no shares, but indirectly owns 127,168 to 133,646 shares through a trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to stock sales under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Industry Context

Sales by insiders are a common occurrence, and the use of a 10b5-1 plan allows insiders to sell shares over a period of time without being accused of acting on inside information. It is important to consider the overall trend of insider transactions and the reasons behind them when evaluating the company's stock.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the potential for slight price fluctuations.
• The impact on other stakeholders (employees, customers, suppliers, creditors) is likely to be negligible.

Key Dates