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 October 22, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp, sold Class A Common Stock on October 22, 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, ranging from $190.84 to $195.71.
- A total of 7,948 shares were sold at weighted-average prices between $191.40 and $195.58.
- The shares were indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
- Following the reported transactions, Cannon-Brookes indirectly beneficially owns 381,504 to 389,252 shares through the trust.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports stock sales under a pre-arranged trading plan, which is a common and legal practice.
Industry Context
Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1, which allows insiders to sell shares at predetermined times and prices to avoid accusations of trading on material non-public information.
Key Dates
| Date | Description |
|---|---|
| February 8, 2024 | Date the Rule 10b5-1 trading plan was adopted. |
| October 22, 2024 | Date of the stock sale transactions. |
| October 23, 2024 | Date of the Form 4 filing. |
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