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 April 25, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, executed multiple sales of Class A Common Stock on April 25, 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 CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• The sales occurred at varying prices, with weighted-average prices reported for each set of transactions.
• A total of 7,948 shares were sold across six transactions with prices ranging from $226.29 to $231.58.
• Following these transactions, the number of shares beneficially owned indirectly by Cannon-Brookes through the trust decreased.

Sentiment

Score: 6

Explanation: The document itself is neutral as it simply reports transactions. The fact that the sales are under a 10b5-1 plan mitigates potential negative sentiment, but large insider sales can sometimes create uncertainty.

Positives

• The sales were conducted under a pre-arranged 10b5-1 trading plan, which is a legal and transparent way for insiders to sell shares.

Risks

• While the sales are under a 10b5-1 plan, large insider sales can sometimes be perceived negatively by the market.

Future Outlook

The document does not contain any specific forward-looking statements regarding Atlassian's future performance.

Industry Context

Insider sales are a common occurrence in publicly traded companies, especially among executives and significant shareholders. The use of 10b5-1 trading plans is a standard practice to avoid accusations of trading on non-public information. Investors often monitor insider transactions for signals about a company's prospects, but sales under pre-arranged plans are generally viewed as less informative than discretionary trades.

Stakeholder Impact

• The stock sales could have a minor impact on shareholder sentiment, although the existence of a pre-arranged trading plan should alleviate concerns.

Key Dates

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, insider trading, Form 4, Rule 10b5-1, stock sale, CBC Co Pty Limited, Cannon-Brookes Head Trust