Form 4: Atlassian CEO Michael Cannon-Brookes Sells Class A Common Stock Under 10b5-1 Trading Plan

Atlassian's CEO, Michael Cannon-Brookes, executed multiple sales of Class A Common Stock on September 11, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, sold shares of Class A Common Stock on September 11, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved multiple trades at varying prices, ranging from $161.88 to $167.13.
• A total of 8 shares were sold at $167.13.
• A total of 3,761 shares were sold at $166.3877.
• A total of 622 shares were sold at $163.4287.
• A total of 1,262 shares were sold at $164.6521.
• A total of 2,095 shares were sold at $165.6563.
• A total of 200 shares were sold at $162.025.
• Following the reported transactions, Cannon-Brookes beneficially owns 103,324 shares indirectly through a trust and 107,503 shares directly.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports transactions under a pre-existing trading plan. There is no indication of positive or negative sentiment regarding the company's performance or future prospects.

Industry Context

Insider selling is a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on current market information. It is important to monitor insider transactions in conjunction with overall company performance and market conditions.

Stakeholder Impact

• The stock sales could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates