Form 4: Atlassian Co-CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Trading Plan
SEC Form 4
Atlassian's Co-CEO Michael Cannon-Brookes sold shares of Class A Common Stock on August 29, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, executed multiple sales of Class A Common Stock on August 29, 2024.
- These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
- The sales were executed at varying prices, with weighted-average prices reported for each set of transactions.
- The shares were held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
- Cannon-Brookes sold a total of 8,248 shares on August 29, 2024.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports stock sales under a pre-existing trading plan, which is a common and legal practice.
Industry Context
Insider selling can sometimes be viewed negatively by the market, but the use of a pre-arranged 10b5-1 trading plan often mitigates concerns as it demonstrates the sales were planned in advance and not based on current inside information.
Key Dates
| Date | Description |
|---|---|
| 02/08/2024 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| 08/29/2024 | Date of the stock sale transactions |
| 08/30/2024 | Date of the signature on the Form 4 filing |
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