Form 4: Atlassian CEO Michael Cannon-Brookes Sells Shares Under 10b5-1 Plan

Atlassian CEO Michael Cannon-Brookes sold a total of 8,047 Class A common stock shares on November 15, 2024, through a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, sold 8,047 shares of Class A Common Stock on November 15, 2024.
• The sales were executed through a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions were conducted in multiple trades throughout the day at varying prices.
• The shares were sold at weighted average prices ranging from $239.2215 to $246.075 per share.
• The shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following these transactions, Mr. Cannon-Brookes beneficially owns 238,440 shares indirectly through the trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing regarding stock sales by an executive under a pre-arranged plan. It does not indicate any positive or negative sentiment about the company's performance or future prospects.

Risks

• The sale of shares by a high-profile executive could potentially be interpreted negatively by the market, although it was conducted under a pre-arranged trading plan.

Industry Context

The sale of shares by a company executive is a common occurrence, especially when conducted under a pre-arranged 10b5-1 trading plan. These plans are designed to allow insiders to sell shares without being accused of trading on non-public information. The market reaction to such sales can vary depending on the overall sentiment and the company's performance.

Comparison to Industry Standards

• Sales by executives under 10b5-1 plans are common across the tech industry, with companies like Microsoft, Apple, and Google having similar filings.
• The volume of shares sold by Mr. Cannon-Brookes is relatively small compared to the total outstanding shares of Atlassian, which is typical for these types of transactions.
• The price range of the sales is within the normal trading range for Atlassian stock on the day of the transaction, indicating no unusual market activity.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, but it is unlikely to be significant given the relatively small volume and the pre-arranged nature of the transactions.
• The sale does not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Atlassian, Michael Cannon-Brookes, stock sale, insider trading, Rule 10b5-1, Class A Common Stock, executive, share transaction