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

Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, sold Class A Common Stock on October 4, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On October 4, 2024, Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, executed multiple sales of Class A Common Stock.
• These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
• The sales were executed in multiple trades at varying prices throughout the day.
• The shares were sold indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• A total of 8,303 shares were sold in multiple transactions at prices ranging from $161.27 to $171.80.
• Following these transactions, the number of shares beneficially owned indirectly by Cannon-Brookes through the trust is 476,880.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to stock sales under a pre-arranged trading plan, indicating a neutral sentiment.

Future Outlook

The document does not contain any specific forward-looking statements, but it indicates ongoing sales under a pre-arranged trading plan.

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 market will likely interpret this as a neutral event unless the volume or frequency of sales changes significantly.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders due to the increased supply of shares in the market.

Key Dates