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 May 21, 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 May 21, 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 directly and indirectly through the Cannon-Brookes Head Trust.
• The prices per share ranged from $208.71 to $214.86 across various transactions.
• A total of 7,848 shares were sold on May 21, 2025.
• Following the reported transactions, the number of shares beneficially owned indirectly by the trust is 87,428.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document reports routine stock sales under a pre-arranged trading plan, which doesn't inherently indicate positive or negative sentiment.

Industry Context

Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1, which allows insiders to sell shares at predetermined times and prices to avoid accusations of trading on non-public information. The market typically views these sales in the context of the trading plan rather than as a reflection of the insider's view of the company's prospects.

Stakeholder Impact

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

Key Dates

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Stock Sale, Form 4, Rule 10b5-1, Insider Trading, CBC Co Pty Limited, Cannon-Brookes Head Trust, Class A Common Stock