Form 4: Atlassian CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Plan
SEC Form 4
Atlassian CEO Michael Cannon-Brookes sold shares of Class A Common Stock on January 29, 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 January 29, 2025.
- These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
- The sales were executed at various prices, with weighted-average prices ranging from $266.9585 to $274.2033.
- The shares were held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
- Following these transactions, the number of shares beneficially owned indirectly by the trust decreased.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales under a pre-arranged trading plan. It doesn't convey any particularly positive or negative sentiment.
Industry Context
The use of 10b5-1 trading plans is a common practice among corporate executives to sell shares while avoiding accusations of insider trading. These plans are typically established well in advance of any actual trading activity.
Key Dates
| Date | Description |
|---|---|
| 2024-02-08 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| 2025-01-29 | Date of the stock sales |
| 2025-01-30 | Date of signature for the SEC Form 4 filing |
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