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 November 8, 2024, 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 November 8, 2024.
• These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
• The sales were executed at varying prices, with weighted-average prices ranging from $232.9567 to $237.9075.
• A total of 8,098 shares were sold across multiple transactions.
• The shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following these transactions, Cannon-Brookes continues to beneficially own a significant number of Atlassian shares, both directly and indirectly.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating stock sales by an insider under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment, but rather reports a factual transaction.

Industry Context

Sales by insiders are a common occurrence, and the use of a 10b5-1 trading plan allows insiders to sell shares over a period of time without being accused of trading on inside information. It is important to consider the overall context of insider sales, including the company's performance, industry trends, and the individual's personal financial situation.

Stakeholder Impact

• The stock sales could potentially have a minor impact on shareholder sentiment, depending on how the market interprets the insider activity.
• However, given the pre-arranged nature of the sales under the 10b5-1 plan, the impact is likely to be minimal.

Key Dates