Form 4: Atlassian Co-CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Trading Plan
SEC Form 4 Filing
Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reports the sale of Class A Common Stock on June 7, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, filed a Form 4 detailing changes in beneficial ownership.
- On June 7, 2024, Cannon-Brookes sold shares of Atlassian Class A Common Stock under a Rule 10b5-1 trading plan.
- The sales were executed in multiple transactions at varying prices.
- A total of 7,948 shares were sold at prices ranging from $159.32 to $163.60.
- Following the reported transactions, Cannon-Brookes indirectly owns 111,272 to 118,474 shares through a trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock sales under a pre-arranged trading plan, indicating a neutral sentiment.
Industry Context
Executive stock sales are a common occurrence, and the use of a 10b5-1 plan suggests these sales were pre-planned and not based on any inside information.
Stakeholder Impact
- The stock sales may have a minor impact on shareholders due to the increased supply of shares in the market.
- The use of a 10b5-1 plan mitigates concerns about insider trading, reassuring stakeholders.
Key Dates
| Date | Description |
|---|---|
| February 8, 2024 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| June 7, 2024 | Date of the stock sale transactions |
| June 10, 2024 | Date of the Form 4 filing |
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