Form 4: Atlassian CEO Michael Cannon-Brookes Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Atlassian CEO Michael Cannon-Brookes sold Class A Common Stock on October 29, 2024, 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 October 29, 2024.
- 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 $188.3825 to $192.6925.
- A total of 8,048 shares were sold indirectly through a trust (CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust).
- 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 insider trading activity. The sentiment is neutral as it simply reports transactions.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.
Stakeholder Impact
- The stock sale could have a minor negative impact on shareholder sentiment, although it is likely to be minimal given the pre-planned nature of the transactions.
Key Dates
| Date | Description |
|---|---|
| February 8, 2024 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| October 29, 2024 | Date of the reported transactions (stock sales) |
| October 30, 2024 | Date of the signature on the Form 4 filing |
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