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

Atlassian's CEO, Michael Cannon-Brookes, executed multiple sales of Class A Common Stock on October 25, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, sold shares of Class A Common Stock on October 25, 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 reported for each set of trades.
• The shares were sold at prices ranging from $188.39 to $192.96.
• Following the reported transactions, Cannon-Brookes indirectly owns 357,660 to 362,791 shares of Class A Common Stock through a trust.
• The sales were conducted through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

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 executed under a pre-existing trading plan.

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 at predetermined times and prices, avoiding accusations 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, potentially causing a slight decrease in stock price due to increased supply.
• The impact is likely to be minimal as the sales were pre-planned and executed under a Rule 10b5-1 trading plan.

Key Dates