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

Atlassian CEO Michael Cannon-Brookes sold a total of 7,948 Class A common stock shares on January 21, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, sold 7,948 shares of Class A Common Stock on January 21, 2025.
• The sales were executed under 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 $252.8254 to $257.2002.
• The shares are indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following these transactions, Mr. Cannon-Brookes still indirectly holds a substantial number of shares.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction under a pre-arranged trading plan, with no indication of positive or negative sentiment. It is a neutral event.

Risks

• The sale of shares by a high-profile executive like the CEO could potentially be perceived negatively by the market, although it was done under a pre-arranged plan.

Industry Context

Executive stock sales are a common occurrence, especially under pre-arranged trading plans like Rule 10b5-1, which allows insiders to sell shares without being accused of trading on non-public information. This is a routine transaction and does not necessarily indicate a change in the company's outlook.

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 is relatively small compared to the total shares held by Mr. Cannon-Brookes, 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.

Stakeholder Impact

• The stock sale may have a minor impact on shareholder sentiment, but it is unlikely to have a significant effect given the pre-planned nature of the transaction.

Key Dates

Keywords

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