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

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp, reported the sale of Class A Common Stock on March 10, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• A total of 8,565 shares were sold indirectly through a trust (CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust).
• The sales occurred in multiple transactions throughout the day at varying prices, ranging from approximately $213.16 to $229.69 per share.
• Following the reported transactions, the trust beneficially owns 119,220 shares of Atlassian Class A Common Stock.

Sentiment

Score: 5

Explanation: The document itself is neutral, simply reporting stock sales under a pre-existing plan. The impact on sentiment depends on investor interpretation of insider sales, but the 10b5-1 plan suggests it's not necessarily a negative signal.

Future Outlook

The document does not contain any specific forward-looking statements, but the sales will continue under the existing 10b5-1 trading plan.

Industry Context

Insider trading activity is always closely watched by investors. Sales by a CEO can sometimes raise concerns, but the presence of a pre-arranged 10b5-1 trading plan often mitigates these concerns as it indicates the transactions were planned well in advance.

Stakeholder Impact

• The stock sale could have a minor impact on shareholders, depending on how the market interprets the insider selling activity.
• The existence of a 10b5-1 plan mitigates potential negative perceptions.

Key Dates