Form 4: Atlassian CEO Michael Cannon-Brookes Sells Class A Common Stock Under 10b5-1 Trading Plan
SEC Form 4 Filing
Atlassian CEO Michael Cannon-Brookes executed multiple sales of Class A Common Stock on February 21, 2025, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp, reported the sale of Class A Common Stock on February 21, 2025.
- The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
- A total of 8,048 shares were sold indirectly through a trust (CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust).
- The sales occurred in multiple trades throughout the day at varying prices, ranging from $283.65 to $296.99 per share.
- Following these transactions, the trust beneficially owns 206,648 shares of Atlassian Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock sales by an insider under a pre-arranged trading plan. It doesn't inherently convey positive or negative 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.
Key Dates
| Date | Description |
|---|---|
| 2024-02-08 | Date the Rule 10b5-1 trading plan was adopted by the Reporting Person. |
| 2025-02-21 | Date of the reported transactions (sales of Class A Common Stock). |
| 2025-02-24 | Date of the signature on the Form 4 filing. |
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