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 May 19, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp, executed sales of Class A Common Stock on May 19, 2025.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• A total of 3,082 shares were sold at a weighted-average price of $215.3425, with prices ranging from $214.91 to $215.89.
• An additional 4,336 shares were sold at a weighted-average price of $214.4608, with prices ranging from $213.90 to $214.89.
• Finally, 530 shares were sold at a weighted-average price of $216.1498, with prices ranging from $215.95 to $216.39.
• Following these transactions, Cannon-Brookes directly owns 108,190 shares and indirectly owns 103,324 shares through a trust.
• The shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales under a pre-arranged plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

Executive stock sales are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares without being accused of trading on non-public information. The market typically views these sales based on the overall volume and context.

Comparison to Industry Standards

• Executive stock sales are common across publicly traded companies, especially in the tech sector.
• Companies like Microsoft, Apple, and Google also see regular insider trading activity, often through pre-arranged trading plans.
• The volume of shares sold by Cannon-Brookes is relatively small compared to the total outstanding shares of Atlassian, suggesting it's unlikely to have a significant impact on the stock price.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders due to the increased supply of shares.
• However, the sales are part of a pre-arranged plan and are unlikely to significantly affect the company's operations or financial health.

Key Dates

Keywords

Atlassian, Cannon-Brookes, Stock Sale, Form 4, Rule 10b5-1, Insider Trading, TEAM