Form 4: Atlassian CEO Michael Cannon-Brookes Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Atlassian CEO Michael Cannon-Brookes sold a portion of his Class A Common Stock on January 28, 2025, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp, executed multiple sales of Class A Common Stock on January 28, 2025.
- The sales were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
- The transactions were executed through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
- The sales prices ranged from $265.9867 to $281.6226 per share.
- A total of 8,388 shares were sold in multiple transactions at varying prices.
- Following the reported transactions, the number of shares beneficially owned indirectly by Cannon-Brookes through the trust is 341,764.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
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 inside information.
Stakeholder Impact
- The stock sale could have a minor negative impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about insider trading based on privileged information.
Key Dates
| Date | Description |
|---|---|
| 02/08/2024 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| 01/28/2025 | Date of the reported transactions (sales of Class A Common Stock) |
| 01/29/2025 | Date of the signature on the Form 4 filing |
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