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 February 11, 2025, 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 February 11, 2025.
• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved the disposal of shares held indirectly through a trust (CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust).
• The sales prices ranged from $315.1964 to $323.96 per share.
• A total of 8,948 shares were sold on February 11, 2025.
• Following the reported transactions, the number of shares beneficially owned by the trust is 262,284.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document reports routine stock sales under a pre-arranged trading plan. There is no indication of positive or negative implications for the company's performance.

Industry Context

Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information. The market typically views these sales based on the context of the company's performance and the size of the transactions.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely to be minimal given the pre-planned nature of the transactions.

Key Dates

Keywords

Form 4, Atlassian, TEAM, Michael Cannon-Brookes, Stock Sale, Rule 10b5-1, CBC Co Pty Limited, Cannon-Brookes Head Trust, Director, CEO