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 10, 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 September 10, 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 directly and 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 $158.11 to $162.41.
- A total of 8,278 shares were sold across multiple transactions.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock sales under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
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 routine transaction unless the volume is unusually high or the timing is suspect.
Key Dates
| Date | Description |
|---|---|
| February 8, 2024 | Date the Rule 10b5-1 trading plan was adopted by the Reporting Person |
| September 10, 2024 | Date of the stock sale transactions |
| September 11, 2024 | Date of the signature on the Form 4 filing |
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