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 17, 2025, 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 March 17, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved multiple trades at varying prices throughout the day.
• The shares were sold indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• The weighted-average sale prices ranged from $218.0794 to $223.9877.
• Following the reported transactions, Cannon-Brookes indirectly owns between 79,480 and 85,487 shares of Class A Common Stock through the trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions executed under a pre-existing 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 at predetermined times and prices, avoiding accusations of trading on non-public information. The market typically views these sales in the context of the overall health and prospects of the company.

Stakeholder Impact

• The share sales could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates