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

Atlassian's Co-CEO Michael Cannon-Brookes sold shares of Class A Common Stock under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian Corp, executed sales of Class A Common Stock on May 20, 2024.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• A total of 3,814 shares were sold at a weighted-average price of $179.6213, with prices ranging from $179.08 to $179.97.
• An additional 4,427 shares were sold at a weighted-average price of $178.6087, with prices ranging from $178.03 to $179.01.
• Following the transactions, Cannon-Brookes directly owns no shares, but indirectly owns 222,539 shares and 218,112 shares through a trust.

Sentiment

Score: 6

Explanation: The document is neutral in tone, simply reporting stock sales under a pre-existing plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Positives

• The sales were conducted under a pre-arranged 10b5-1 trading plan, which is a legal and transparent way for insiders to sell shares.

Risks

• Executive stock sales can sometimes be perceived negatively by investors, although the existence of a 10b5-1 plan mitigates this concern.

Future Outlook

The document does not contain any forward-looking statements regarding the company's future performance.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies. The use of a 10b5-1 plan is a standard practice to avoid accusations of insider trading.

Key Dates