Form 4: Atlassian Co-CEO Michael Cannon-Brookes Disposes of Class A Common Stock

Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reports the sale of Class A Common Stock through a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reported the disposition of Class A Common Stock on August 22, 2024.
• 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 transactions.
• The shares were indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• A total of 7,948 shares were sold in multiple transactions at prices ranging from $155.13 to $160.09.
• Following the reported transactions, the number of Class A Common Stock shares beneficially owned indirectly by Trust is 206,648.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. It doesn't inherently convey positive or negative sentiment, as it simply reports transactions.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by a high-profile executive like Michael Cannon-Brookes could have a minor negative impact on investor sentiment, although the existence of a pre-arranged trading plan mitigates this concern.

Key Dates