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 January 14, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, reported the sale of Class A Common Stock on January 14, 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 ranging from $238.78 to $247.11.
• A total of 7,948 shares were sold, resulting in a decrease in direct ownership but an indirect beneficial ownership of 413,296 shares through a trust.
• The shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports stock sales under a pre-arranged 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, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information. The market typically views these sales in the context of the overall trading plan and the insider's remaining holdings.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders due to the slight dilution of shares.
• The impact on employees, customers, suppliers, and creditors is likely to be negligible.

Key Dates