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 5, 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 5, 2024.
• These transactions were conducted under a pre-existing Rule 10b5-1 trading plan adopted on February 8, 2024.
• The sales were executed at varying prices, with weighted-average prices ranging from $182.25 to $187.6997 per share.
• The sales resulted in a decrease in the number of shares indirectly beneficially owned by Cannon-Brookes through a trust.
• After the reported transactions, Cannon-Brookes indirectly beneficially owns 476,880 to 484,508 shares of Class A Common Stock through the Cannon-Brookes Head Trust.

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.

Industry Context

Sales by executives are a normal part of corporate governance. The use of a 10b5-1 plan indicates that these sales were pre-planned and not based on any inside information.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
• However, given the pre-planned nature of the sales under the 10b5-1 plan, the impact is likely to be limited.

Key Dates