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 December 26, 2024, 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 December 26, 2024.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• A total of 2,612 shares were sold at a weighted-average price of $254.8469, with prices ranging from $254.24 to $255.23.
• An additional 4,436 shares were sold at a weighted-average price of $255.6179, with prices ranging from $255.25 to $256.23.
• Finally, 900 shares were sold at a weighted-average price of $256.4118, with prices ranging from $256.26 to $256.66.
• Following these transactions, Cannon-Brookes directly owns 29,180 shares and indirectly owns 24,744 shares through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports stock sales under a pre-existing trading plan, which is a common and legal practice.

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.

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.

Key Dates