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

Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, sold shares of Class A Common Stock on July 18, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On July 18, 2024, Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, executed multiple sales of Class A Common Stock.
• These transactions were carried out under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The sales were executed at varying prices throughout the day, ranging from $175.60 to $181.97 per share.
• The total number of shares sold in these transactions was 8,048.
• The shares are held indirectly by the Cannon-Brookes Head Trust.
• Following these transactions, Cannon-Brookes indirectly holds between 405,348 and 412,105 shares through the trust.

Sentiment

Score: 5

Explanation: The document is a standard 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, but rather reports a factual transaction.

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 based on the context of the company's overall performance and the size of the transactions.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.
• The impact is likely to be minimal given the pre-planned nature of the sales and the relatively small volume compared to the company's overall market capitalization.

Key Dates