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 January 13, 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 13, 2025.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• A total of 7,948 shares were sold at weighted-average prices ranging from $236.0786 to $238.8472.
• The shares were sold indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following the reported transactions, the number of shares beneficially owned indirectly by Cannon-Brookes through the trust is 421,244.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating stock sales by an insider under a pre-arranged plan. It's a neutral event, neither particularly positive nor negative.

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 inside information.

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.
• However, given the sales are under a pre-arranged plan, the impact is likely to be minimal.

Key Dates