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

Atlassian's Co-CEO, Michael Cannon-Brookes, sold shares of Class A Common Stock on July 3, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, executed sales of Class A Common Stock on July 3, 2024.
• The transactions were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The sales were executed in multiple trades at varying prices, with weighted-average prices of $183.01, $184.0514, $181.9767 and $184.55.
• A total of 2,469, 1,208, 4,258 and 13 shares were sold at the respective weighted average prices.
• Following the reported transactions, Cannon-Brookes indirectly owns 484,828 shares through a 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 inherently convey positive or negative sentiment.

Industry Context

Sales by insiders are a common occurrence and are often pre-planned to avoid accusations of trading on inside information. The use of a 10b5-1 trading plan allows insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased selling pressure.
• The impact is likely to be minimal given the pre-planned nature of the sales and the relatively small volume of shares sold compared to the total outstanding shares.

Key Dates