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 16, 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 16, 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.
• A total of 7,948 shares were sold at prices ranging from approximately $219.39 to $223.32.
• The shares were indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following the reported transactions, the number of shares beneficially owned indirectly by the trust decreased.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports stock sales under a pre-existing plan, which is a common practice. There's no indication of positive or negative implications for the company's performance.

Industry Context

Sales by insiders, especially CEOs, are closely watched by investors. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on current inside information. However, large or frequent sales can sometimes raise concerns about management's confidence in the company's future prospects.

Comparison to Industry Standards

• It's common for executives at publicly traded companies like Atlassian to utilize 10b5-1 trading plans to sell shares, as seen with executives at companies like Microsoft, Alphabet, and Salesforce.
• The volume and frequency of these sales are often compared to industry peers to gauge whether they are typical or indicative of a larger trend or concern.
• The weighted average prices are within a normal range for stock sales.

Key Dates

Keywords

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