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

Michael Cannon-Brookes, Co-CEO 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, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates that Cannon-Brookes sold shares of Atlassian Class A Common Stock on May 24, 2024.
• These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 21, 2023.
• The sales were conducted in multiple trades at varying prices, ranging from $168.77 to $173.40 per share.
• A total of 8,241 shares were sold, resulting in a decrease in the number of shares indirectly beneficially owned by Cannon-Brookes through a trust.
• Following the reported transactions, Cannon-Brookes indirectly beneficially owns 185,148 shares through the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to stock sales by an executive. It doesn't inherently convey positive or negative sentiment, as it simply reports transactions executed under a pre-existing plan.

Industry Context

Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information.

Key Dates