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, sold shares of Class A Common Stock on May 10, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reported the sale of Class A Common Stock on May 10, 2024.
• The transactions were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• A total of 8,241 shares were sold at prices ranging from $178.89 to $182.86.
• The sales were conducted in multiple trades throughout the day, with weighted-average prices reported for each set of transactions.
• Following the reported transactions, Cannon-Brookes indirectly owns 267,558 to 274,712 shares through a trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports stock sales under a pre-arranged plan, which is a normal course of business. There is no indication of positive or negative implications.

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.

Industry Context

Sales by insiders are common and are usually not a cause for concern unless there are other red flags. Rule 10b5-1 plans are designed to allow insiders to sell shares without being accused of insider trading.

Key Dates