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 28, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, reported the sale of Class A Common Stock on February 28, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved multiple trades at varying prices, with weighted-average prices ranging from $274.8333 to $283.9204.
• A total of 6,148 shares were sold, resulting in a decrease in the number of shares beneficially owned indirectly by the reporting person through a trust.
• Following the reported transactions, the reporting person beneficially owns 174,055 shares directly and 166,908 shares indirectly through a trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports stock sales under a pre-arranged trading plan, which is a common and legal practice. There is no indication of positive or negative sentiment towards the company's prospects.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which is a legal and transparent way for insiders to sell shares.
• The reporting person still holds a significant number of shares in Atlassian, indicating continued alignment with the company's success.

Industry Context

Sales by insiders are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on any inside information. Investors often monitor insider transactions for signals about a company's prospects, but sales under a 10b5-1 plan are generally viewed as less informative.

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 impact on other stakeholders (employees, customers, suppliers, creditors) is likely to be negligible.

Key Dates

Keywords

Atlassian, Michael Cannon-Brookes, TEAM, Class A Common Stock, Rule 10b5-1, insider trading, stock sale, SEC Form 4