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

Atlassian CEO Michael Cannon-Brookes sold shares of Class A Common Stock on October 7, 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 7, 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 $167.38 to $171.25.
• The shares were sold at weighted-average prices of $167.7186, $169.0249, $169.9502, and $170.6946.
• The sales resulted in a decrease in the number of shares indirectly beneficially owned by Cannon-Brookes through a trust.
• Following the reported transactions, Cannon-Brookes indirectly beneficially owns 468,932 shares through the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider trading activity, which is common for executives of publicly traded companies. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific non-public information.

Stakeholder Impact

• The sale of shares by the CEO could have a minor impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about insider information.

Key Dates