Form 4: Atlassian CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Trading Plan
SEC Form 4
Atlassian CEO Michael Cannon-Brookes sold shares of Class A Common Stock on January 6, 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 6, 2025.
- The sales were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
- The transactions involved the disposal of shares held indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
- The sales occurred at varying prices throughout the day, ranging from $252.22 to $258.90 per share.
- A total of 8,098 shares were sold in multiple transactions.
- Following the reported transactions, the number of shares beneficially owned indirectly by the trust is 460,984.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock sales under a pre-arranged trading plan, so the sentiment is neutral.
Future Outlook
The document does not contain any specific forward-looking statements, but the sales are part of a pre-arranged trading plan.
Industry Context
This is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.
Key Dates
| Date | Description |
|---|---|
| 02/08/2024 | Date of adoption of the Rule 10b5-1 trading plan |
| 01/06/2025 | Date of stock sale transactions |
| 01/07/2025 | Date of signature for the SEC Form 4 filing |
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