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

Atlassian CEO Michael Cannon-Brookes executed multiple sales of Class A Common Stock on February 4, 2025, 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 February 4, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved multiple trades at varying prices, with weighted-average prices reported for each set of trades.
• The shares were sold indirectly through a trust (CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust).
• A total of 8,048 shares were sold in multiple transactions.
• The sales prices ranged from $311.05 to $319.4567 per share.
• Following the reported transactions, the trust still holds 302,024 shares.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports the sale of shares under a pre-existing trading plan, which is a common and legal practice. There is no indication of positive or negative implications for the company.

Industry Context

Sales by insiders are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific inside information.

Stakeholder Impact

• The sale of shares by a high-profile executive could create short-term uncertainty among shareholders.
• However, the existence of a 10b5-1 plan mitigates concerns about insider trading and suggests a planned diversification strategy.

Key Dates

Keywords

Atlassian, Michael Cannon-Brookes, TEAM, Class A Common Stock, Rule 10b5-1, Share Sale, CBC Co Pty Limited, Cannon-Brookes Head Trust, Director, CEO