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

Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, reports multiple sales of Class A Common Stock on April 14, 2025, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, filed a Form 4 detailing sales of Class A Common Stock.
• The transactions occurred on April 14, 2025, and were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The sales were conducted in multiple trades at varying prices, with weighted-average prices reported for each transaction.
• The shares were sold indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• The total number of shares sold was 7,848.
• The price per share ranged from $199.3776 to $209.93.
• Following the reported transactions, the number of shares held indirectly by the trust decreased from 301,556 to 294,076.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating stock sales by an executive. The use of a 10b5-1 plan suggests the sales were pre-planned and doesn't necessarily reflect a negative sentiment towards the company. Therefore, the sentiment is neutral.

Industry Context

Executive stock sales are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on any inside information. Investors often monitor these filings for insights into management's perspective on the company's value.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
• The sales do not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

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