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 March 7, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp, executed multiple sales of Class A Common Stock on March 7, 2025.
• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved the disposal of shares held indirectly through a trust (CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust).
• The prices per share varied across the transactions, ranging from approximately $229.67 to $250.34.
• A total of 7,648 shares were sold on March 7, 2025.
• Following these transactions, the number of shares beneficially owned indirectly by Mr. Cannon-Brookes through the trust is 127,168.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports transactions under a pre-existing trading plan. It doesn't inherently indicate positive or negative sentiment about the company's future.

Industry Context

Insider selling can be interpreted in various ways by the market; it's crucial to consider the context of the 10b5-1 plan, which suggests pre-planned diversification rather than a reaction to current company performance.

Stakeholder Impact

• Shareholders may react to the news of insider selling, although the existence of a 10b5-1 plan mitigates concerns about the CEO's confidence in the company.
• Employees may be indirectly affected by any stock price fluctuations resulting from the disclosure.

Key Dates