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

Atlassian Co-CEO Michael Cannon-Brookes sold shares of Class A Common Stock on July 15, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian Corp, executed multiple sales of Class A Common Stock on July 15, 2024.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved the disposal of 4,234 shares at a weighted average price of $179.7443, 380 shares at $181.3469, 3,284 shares at $180.4142, and 50 shares at $182.05.
• These sales reduced Cannon-Brookes' direct holdings while his indirect holdings through a trust remain substantial, with 429,192 to 432,906 shares held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust after the transactions.

Sentiment

Score: 5

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

Future Outlook

The filing does not contain any forward-looking statements regarding the company's future performance or expectations.

Industry Context

The filing reflects routine transactions by a company insider under a pre-arranged trading plan, which is a common practice to avoid accusations of insider trading. These transactions are publicly disclosed to maintain transparency and comply with SEC regulations.

Stakeholder Impact

• The stock sales by a high-profile executive could have a minor impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates