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 April 2, 2025, 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 April 2, 2025.
• These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
• The sales were executed in multiple trades at varying prices throughout the day.
• The shares are held indirectly by the Cannon-Brookes Head Trust.
• The weighted-average prices for the transactions ranged from $216.76 to $226.565.
• Following these transactions, the number of shares held by the trust decreased.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports stock sales under a pre-existing trading plan, which is a common and generally expected practice. There's no indication of positive or negative implications for the company's performance.

Industry Context

Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information. The market typically views these sales in the context of the overall trading plan and the insider's remaining holdings.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but this is likely mitigated by the pre-planned nature of the sales.

Key Dates

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Class A Common Stock, Rule 10b5-1, Stock Sale, CBC Co Pty Limited, Cannon-Brookes Head Trust, SEC Form 4