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 February 24, 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 February 24, 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 sales prices ranged from $275.51 to $286.69 per share.
• A total of 8,506 shares were sold across 10 transactions.
• The shares were held indirectly by the Cannon-Brookes Head Trust.
• Following the reported transactions, the number of shares held by the trust decreased from 211,777 to 198,700.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.

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 material non-public information. The market will often scrutinize the size and frequency of such sales to gauge potential impact on the stock price.

Stakeholder Impact

• The stock sales could potentially exert downward pressure on the stock price, impacting shareholders.
• The impact is likely to be minimal due to the pre-planned nature of the sales.

Key Dates