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

Atlassian CEO Michael Cannon-Brookes sold shares of Class A Common Stock on September 9, 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 9, 2024.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved the disposal of 2,251 shares at a weighted-average price of $163.321, 1,523 shares at $165.3985, 1,990 shares at $162.5771, and 2,184 shares at $164.3775.
• Following these transactions, Cannon-Brookes directly owns a certain amount of Class A Common Stock and indirectly owns 119,220 to 124,917 shares through a trust (CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust).

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock sales. It doesn't inherently convey positive or negative sentiment, as it's simply a report of transactions.

Future Outlook

The document does not contain any specific forward-looking statements, but the sales are being conducted under a pre-arranged trading plan.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions. It's common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
• However, given the pre-planned nature of the sales, the impact is likely to be minimal.

Key Dates