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

Atlassian CEO Michael Cannon-Brookes sold shares of Class A Common Stock on February 7, 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 February 7, 2025.
• These transactions were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The sales were executed at varying prices, ranging from $312.97 to $321.56 per share.
• A total of 6,203 shares were sold, resulting in a decrease in the number of shares indirectly beneficially owned by Cannon-Brookes through a trust.
• The shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following the reported transactions, the number of Class A Common Stock shares beneficially owned indirectly by the trust is 278,180.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports stock sales under a pre-existing trading plan, which is a routine activity.

Industry Context

Executive stock sales 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. The market typically views these sales in the context of the overall health and prospects of the company.

Comparison to Industry Standards

• Executive stock sales are common across publicly traded companies, especially in the technology sector.
• Companies like Microsoft, Apple, and Alphabet also see regular stock transactions by their executives, often under similar 10b5-1 plans.
• The size and frequency of these transactions are often compared to industry peers to assess whether they are typical or indicative of any specific concerns.

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, since the sales are conducted under a pre-arranged plan, the impact is likely to be minimal.

Key Dates

Keywords

Atlassian, Michael Cannon-Brookes, Stock Sale, Rule 10b5-1, CBC Co Pty Limited, Cannon-Brookes Head Trust, Class A Common Stock, Beneficial Ownership