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 30, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, sold shares of Class A Common Stock on April 30, 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, with weighted-average prices reported for each set of trades.
• The shares were sold at prices ranging from approximately $221.00 to $228.32.
• The sales resulted in a decrease in the number of shares indirectly beneficially owned by Cannon-Brookes through a trust.
• After the reported transactions, Cannon-Brookes indirectly beneficially owns between 206,648 and 212,529 shares through a trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports stock sales under a pre-existing trading plan, which is a common and generally non-eventful occurrence.

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 over a period of time without being accused 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.

Comparison to Industry Standards

• Comparing Cannon-Brookes' transactions to other tech CEOs, similar sales under 10b5-1 plans are frequent.
• For example, executives at companies like Microsoft and Alphabet routinely use such plans to diversify their holdings.
• The scale of the sales is relatively small compared to the overall holdings, which is typical for executives using these plans for personal financial management rather than signaling a lack of confidence in the company.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders due to the slight dilution of shares.
• However, since the sales were conducted under a pre-arranged trading plan, the impact is expected to be minimal.

Key Dates

Keywords

Form 4, Atlassian, TEAM, Michael Cannon-Brookes, Rule 10b5-1, Stock Sale, Insider Trading, Beneficial Ownership, CBC Co Pty Limited, Cannon-Brookes Head Trust