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

Atlassian CEO Michael Cannon-Brookes sold Class A Common Stock on September 4, 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 4, 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 ranging from $162.1575 to $164.9626.
• A total of 7,948 shares were sold, reducing the indirect holdings by the Cannon-Brookes Head Trust.
• Following the reported transactions, the Cannon-Brookes Head Trust beneficially owns 143,064 to 148,559 shares.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to stock sales under a pre-arranged trading plan, indicating a neutral sentiment.

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 to avoid accusations of trading on inside 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 due to the increased supply of shares in the market.
• The impact is likely to be minimal as the sales were pre-planned and executed under a Rule 10b5-1 trading plan.

Key Dates