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

Atlassian CEO Michael Cannon-Brookes sold Class A Common Stock on January 2, 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 2, 2025.
• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved the disposal of shares held indirectly through the Cannon-Brookes Head Trust.
• The sales prices ranged from $240.4558 to $245.4644 per share.
• A total of 8,248 shares were sold on January 2, 2025.
• Following the reported transactions, the number of shares beneficially owned by the trust is 476,880.

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

This filing 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. The impact on the stock price is usually minimal unless the sales are unusually large or frequent.

Stakeholder Impact

• The stock sales could have a minor negative impact on shareholder sentiment, but the effect is likely to be minimal given the pre-planned nature of the transactions.

Key Dates