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 September 12, 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 September 12, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• A total of 7,948 shares were sold in multiple transactions at weighted-average prices ranging from $165.9812 to $168.6103.
• The shares were sold in four separate transactions.
• Following the reported transactions, Cannon-Brookes indirectly owns 95,376 shares through a trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports stock sales under a pre-existing trading plan, which is a routine activity.

Industry Context

Insider sales are a common occurrence, and sales under 10b5-1 plans are generally viewed as less impactful since they are pre-scheduled. Investors often monitor insider transactions for signals about a company's prospects, but pre-planned sales are less informative.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, but the existence of a pre-arranged trading plan mitigates concerns about insider sentiment.

Key Dates