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

Atlassian CEO Michael Cannon-Brookes executed multiple sales of Class A Common Stock on April 24, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, reported the sale of Class A Common Stock on April 24, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• Multiple transactions occurred at varying prices throughout the day, with weighted-average prices ranging from $216.3575 to $225.7693.
• The shares were sold both directly and indirectly through a trust (CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust).
• Following the reported transactions, the number of shares held indirectly by the trust decreased.

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-arranged plan.

Industry Context

Insider selling is a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares over time while avoiding accusations of trading on non-public information. The market typically analyzes the size and frequency of such sales to gauge potential impact.

Stakeholder Impact

• Shareholders may react to the news of insider selling, although the existence of a 10b5-1 plan mitigates concerns about opportunistic trading.

Key Dates

Keywords

Atlassian, Michael Cannon-Brookes, TEAM, Class A Common Stock, SEC Form 4, Rule 10b5-1, Insider Trading, CBC Co Pty Limited, Cannon-Brookes Head Trust, Share Sale