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 March 28, 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 March 28, 2025.
• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved multiple trades at varying prices, with weighted-average prices reported for each set of trades.
• The shares were sold at prices ranging from $214.39 to $222.49.
• Following the reported transactions, Cannon-Brookes directly owns some shares and indirectly owns shares through the Cannon-Brookes Head Trust.

Sentiment

Score: 5

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

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 inside information. The market typically views these sales in the context of the overall trading plan and the insider's remaining holdings.

Comparison to Industry Standards

• Comparing Cannon-Brookes' transactions to other tech CEOs' stock sales, the scale and frequency are within a normal range for executives utilizing 10b5-1 plans.
• For example, executives at companies like Microsoft and Alphabet routinely sell shares under similar plans for diversification and liquidity purposes.
• The reported prices are consistent with Atlassian's stock performance during the trading day.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders due to the increased supply of shares in the market.
• However, since the sales were conducted under a pre-arranged trading plan, the impact is likely to be minimal.

Key Dates

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Stock Sale, Form 4, Rule 10b5-1, Insider Trading, Class A Common Stock