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 August 19, 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 August 19, 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 directly and indirectly through the Cannon-Brookes Head Trust.
• The prices per share ranged from $153.10 to $158.94 across various transactions.
• A total of 7,948 shares were sold on August 19, 2024.
• Following the reported transactions, the number of shares beneficially owned indirectly by trust is between 230,492 and 237,523.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to stock sales by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which is a legal and transparent way for insiders to sell shares.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure of insider trading activity. It's common for executives to use 10b5-1 plans to diversify their holdings over time. The market reaction, if any, will depend on the size and frequency of such sales, and the overall sentiment towards Atlassian.

Key Dates