Form 4: Atlassian CEO Michael Cannon-Brookes Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Atlassian CEO Michael Cannon-Brookes executed multiple sales of Class A Common Stock on February 25, 2025, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp, sold shares of Class A Common Stock on February 25, 2025.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
- The transactions involved multiple trades at varying prices throughout the day.
- A total of 8,248 shares were sold indirectly through a trust (CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust).
- The prices ranged from $274.14 to $285.62 per share.
- Following the reported transactions, the trust beneficially owns 190,752 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transactions were pre-planned under a 10b5-1 trading plan. It's a routine disclosure, and the market impact is likely to be minimal unless the scale of selling increases significantly.
Industry Context
Sales by insiders, especially CEOs, are closely watched by investors. The use of a 10b5-1 plan can mitigate concerns about insider information, but the market may still react to the news.
Key Dates
| Date | Description |
|---|---|
| 02/08/2024 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| 02/25/2025 | Date of the reported transactions (sale of shares) |
| 02/26/2025 | Date of signature for the Form 4 filing |
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