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 30, 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 30, 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 $263.8606 to $269.63 per share.
• The shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following these transactions, the trust now holds 325,868 shares of Atlassian Class A Common Stock.

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 could potentially be perceived negatively by the market, although it was conducted under a pre-arranged trading plan.

Industry Context

This is a routine disclosure of stock sales by a company executive under a pre-arranged trading plan, which is a common practice among public company executives to avoid accusations of insider trading. It does not indicate any change in the company's performance or outlook.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a standard practice for executives at publicly traded companies like Atlassian, similar to practices at companies such as Microsoft, Google, and Salesforce.
• The volume of shares sold is relatively small compared to the total outstanding shares of Atlassian, which is typical for these types of transactions.
• The price range of the transactions is consistent with the daily trading activity of Atlassian stock.

Stakeholder Impact

• The stock sale is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors, as it is a routine transaction under a pre-arranged plan.

Key Dates

Keywords

Atlassian, Michael Cannon-Brookes, stock sale, insider trading, Rule 10b5-1, Class A Common Stock, CBC Co Pty Limited, Cannon-Brookes Head Trust