TEAM.NASDAQAtlassian CORP

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

Sentiment:

SEC Form 4

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Atlassian CEO Michael Cannon-Brookes sold shares of Class A Common Stock on November 1, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

  • Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, executed multiple sales of Class A Common Stock on November 1, 2024.
  • 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 a trust (CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust).
  • The prices per share varied across the transactions, ranging from approximately $215.42 to $226.87.
  • A total of 8,148 shares were sold on November 1, 2024.
  • Following these transactions, the number of shares beneficially owned indirectly by the trust is 317,920.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock sales by an insider under a pre-arranged trading plan. It doesn't inherently convey 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.

Key Dates

DateDescription
02/08/2024Date the Reporting Person adopted the Rule 10b5-1 trading plan
11/01/2024Date of the reported transactions (stock sales)
11/04/2024Date of the signature on the Form 4 filing

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