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

Atlassian's Co-CEO, Michael Cannon-Brookes, sold Class A Common Stock on July 24, 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 July 24, 2024.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved the disposal of shares held indirectly through the Cannon-Brookes Head Trust.
• The sales prices ranged from $167.37 to $173.53 per share.
• A total of 8,298 shares were sold across multiple transactions at weighted-average prices between $167.8142 and $173.1166.
• Following the reported transactions, the number of shares beneficially owned indirectly by the trust is 373,556.

Sentiment

Score: 5

Explanation: The document is a routine SEC Form 4 filing, indicating stock sales by an insider under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.

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. The market typically views these sales in the context of the overall trading plan and the insider's remaining holdings.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, depending on the market's perception of insider selling.
• The impact is likely to be minimal given the sales are part of a pre-arranged trading plan.

Key Dates