Form 4: Atlassian CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Trading Plan
SEC Form 4
Atlassian CEO Michael Cannon-Brookes sold shares of Class A Common Stock on September 20, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp, executed multiple sales of Class A Common Stock on September 20, 2024.
- The sales were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
- A total of 1,959 shares were sold at a weighted-average price of $162.281, with individual prices ranging from $161.73 to $162.71.
- An additional 150 shares were sold at a weighted-average price of $163.87, with individual prices ranging from $163.77 to $163.92.
- Another 5,839 shares were sold at a weighted-average price of $163.0962, with individual prices ranging from $162.75 to $163.73.
- Following these transactions, Cannon-Brookes indirectly owns 47,688 shares through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
- He also directly owns an unspecified amount of Class A Common Stock.
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.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions and is a common practice for executives who have pre-arranged trading plans. It provides transparency to investors regarding stock transactions by company insiders.
Stakeholder Impact
- The stock sales may have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased selling pressure.
- The transactions do not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 02/08/2024 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| 09/20/2024 | Date of the stock sale transactions |
| 09/23/2024 | Date of the signature on the Form 4 filing |
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