Form 4: Atlassian Co-CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Plan

Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reports multiple sales of Class A Common Stock on June 25, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, filed a Form 4 detailing changes in beneficial ownership.
• On June 25, 2024, Cannon-Brookes sold multiple blocks of Atlassian Class A Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions were executed at varying prices, ranging from $163.06 to $168.14 per share.
• The sales resulted in a decrease in the number of shares indirectly beneficially owned by Cannon-Brookes through the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to stock sales under a pre-arranged plan, indicating a neutral sentiment.

Industry Context

Executive stock sales are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on insider information at the time of the transactions.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.

Key Dates