Form 4: Atlassian CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Trading Plan
SEC Form 4
Atlassian's CEO, Michael Cannon-Brookes, sold shares of Class A Common Stock on February 6, 2025, under a pre-arranged 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, reported the sale of Class A Common Stock on February 6, 2025.
- The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
- The transactions involved multiple sales at varying prices, ranging from $318.32 to $324.08 per share.
- The sales were conducted both directly and indirectly through the Cannon-Brookes Head Trust.
- Following the reported transactions, Cannon-Brookes directly owns 293,083 shares and indirectly owns 286,128 shares through a trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock sales under a pre-arranged trading plan, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.
Stakeholder Impact
- The stock sales by the CEO could have a minor impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 02/08/2024 | Date the Rule 10b5-1 trading plan was adopted by the Reporting Person |
| 02/06/2025 | Date of the reported transactions (stock sales) |
| 02/07/2025 | Date of the signature on the SEC Form 4 |
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