Form 4: Atlassian CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Trading Plan
SEC Form 4 Filing
Atlassian CEO Michael Cannon-Brookes sold shares of Class A Common Stock on October 1, 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 October 1, 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 $155.8838 to $162.5995.
- A total of 8,048 shares were sold, resulting in a decrease in the number of shares indirectly beneficially owned by Cannon-Brookes through a trust.
- Following the reported transactions, Cannon-Brookes indirectly beneficially owns 500,724 shares through the Cannon-Brookes Head Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales under a pre-arranged plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Executive stock sales are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares without being accused of trading on inside information. The market will likely interpret this as a routine transaction.
Key Dates
| Date | Description |
|---|---|
| February 8, 2024 | Date the Reporting Person adopted the Rule 10b5-1 trading plan. |
| October 1, 2024 | Date of the reported stock sales. |
| October 2, 2024 | Date of the signature on the Form 4 filing. |
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