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

• On August 16, 2024, Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, disposed of Class A Common Stock.
• The transactions were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The sales were conducted in multiple trades at varying prices throughout the day.
• The shares disposed of are indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• A total of 7,948 shares were sold at prices ranging from approximately $146.06 to $154.54.
• Following the reported transactions, the number of shares beneficially owned indirectly by the trust is 238,440.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to stock transactions by an insider. It doesn't inherently convey positive or negative sentiment, as it simply reports facts.

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. The impact on the stock price is usually minimal unless the sales are unusually large or frequent.

Stakeholder Impact

• The sale of shares by a high-profile executive could create short-term uncertainty among shareholders, although the existence of a pre-arranged trading plan mitigates this concern.

Key Dates