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

Atlassian CEO Michael Cannon-Brookes executed sales of Class A Common Stock on October 28, 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 28, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• A total of 1,609 shares were sold at a weighted-average price of $189.2368, with prices ranging from $189.00 to $189.71.
• An additional 6,339 shares were sold at a weighted-average price of $188.4854, with prices ranging from $188.00 to $188.99.
• Following the transactions, Cannon-Brookes directly owns 356,051 shares and indirectly owns 349,712 shares through a trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the stock sale was conducted under a pre-arranged trading plan, suggesting it wasn't based on any specific positive or negative information about the company.

Industry Context

Sales by insiders, especially CEOs, are closely watched by investors. The use of a 10b5-1 plan indicates the sales were pre-planned and not based on current inside information. However, large or frequent sales can sometimes be interpreted negatively by the market.

Stakeholder Impact

• The stock sale could have a minor negative impact on shareholder sentiment, although the use of a 10b5-1 plan mitigates this concern.

Key Dates