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

Michael Cannon-Brookes, Co-CEO of Atlassian, sold shares of Class A Common Stock on May 14, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 14, 2024, Michael Cannon-Brookes, the Co-CEO and Co-Founder of Atlassian Corp, executed sales of Class A Common Stock.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• A total of 1,175 shares were sold at a weighted-average price of $183.7145, with prices ranging from $182.88 to $183.86.
• An additional 672 shares were sold at a weighted-average price of $185.2121, with prices ranging from $184.91 to $185.80.
• Furthermore, 6,394 shares were sold at a weighted-average price of $184.2586, with prices ranging from $183.90 to $184.89.
• Following these transactions, Cannon-Brookes directly owns no shares, but indirectly owns 251,076 to 258,142 shares through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of stock sales under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

This filing is a routine disclosure of stock sales by a company insider, which is common among publicly traded companies. The use of a 10b5-1 trading plan allows insiders to sell shares over a period of time without being accused of trading on non-public information.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders due to the increased supply of shares in the market.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates