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

Atlassian CEO Michael Cannon-Brookes executed multiple sales of Class A Common Stock on October 3, 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 3, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• A total of 915 shares were sold at a weighted-average price of $160.8546, with individual prices ranging from $160.72 to $161.12.
• An additional 5,552 shares were sold at a weighted-average price of $160.1968, with individual prices ranging from $159.72 to $160.71.
• Furthermore, 1,481 shares were sold at a weighted-average price of $159.4666, with individual prices ranging from $158.72 to $159.72.
• Following these transactions, Cannon-Brookes directly owns 491,861 shares and indirectly owns 484,828 shares through a trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 reporting insider trading activity. The sentiment is neutral as it simply reports facts about stock sales 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 over a period of time without being accused 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 sales may have a minor impact on shareholders, potentially creating downward pressure on the stock price in the short term.
• However, given the pre-planned nature of the sales, the impact is likely to be limited.

Key Dates