Form 4: Atlassian Co-CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Trading Plan
SEC Form 4
Atlassian Co-CEO Michael Cannon-Brookes sold shares of Class A Common Stock on June 12, 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 June 12, 2024.
- The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
- The transactions involved the disposal of 4,588 shares at a weighted-average price of $162.8561, 1,650 shares at $164.0816, 1,510 shares at $164.74, and 200 shares at $165.625.
- Following these transactions, Cannon-Brookes directly owns no shares, but indirectly owns 87,428 shares through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock sales under a pre-arranged trading plan. It doesn't convey any particularly positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions. It's common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information. The impact on the stock price is usually minimal unless the sales are unusually large or frequent.
Key Dates
| Date | Description |
|---|---|
| 02/08/2024 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| 06/12/2024 | Date of the stock sale transactions |
| 06/13/2024 | Date of signature for the Form 4 filing |
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