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 May 2, 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 May 2, 2025.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved multiple trades at varying prices throughout the day.
• A total of 7,948 shares were sold at prices ranging from $203.85 to $215.85.
• The shares were held indirectly by the Cannon-Brookes Head Trust.
• Following the reported transactions, the Cannon-Brookes Head Trust beneficially owns 190,752 shares.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to stock sales under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment.

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 non-public information.

Stakeholder Impact

• The sale of shares by a high-profile executive could create short-term uncertainty among shareholders.
• However, the existence of a pre-arranged trading plan mitigates concerns about insider trading based on privileged information.

Key Dates

Keywords

Atlassian, Michael Cannon-Brookes, TEAM, Class A Common Stock, Rule 10b5-1 trading plan, SEC Form 4, Insider Trading, Share Sale