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

Atlassian CEO Michael Cannon-Brookes sold a total of 7,948 Class A common stock shares on January 16, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, executed multiple sales of Class A common stock on January 16, 2025.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• A total of 7,948 shares were sold across four transactions at weighted average prices ranging from $253.7542 to $256.22.
• The shares were sold indirectly through a trust, with the trustee being CBC Co Pty Limited.
• Following these transactions, Cannon-Brookes beneficially owns 397,400 shares indirectly through the trust.

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 trading plan.

Industry Context

The use of 10b5-1 trading plans is a common practice for corporate executives to manage their personal finances while avoiding accusations of insider trading. This transaction is a routine disclosure of such activity.

Comparison to Industry Standards

• Many executives at publicly traded companies use 10b5-1 trading plans to sell shares, so this activity is not unusual.
• The sale of shares by a CEO is a common occurrence and is often pre-planned to avoid any appearance of insider trading.
• The volume of shares sold is relatively small compared to the total outstanding shares of Atlassian, suggesting it is unlikely to have a significant impact on the stock price.

Stakeholder Impact

• The sale of shares by the CEO could have a minor impact on shareholder sentiment, but the pre-planned nature of the transaction should mitigate any negative reactions.

Key Dates

Keywords

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