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

Atlassian's Co-CEO, Michael Cannon-Brookes, executed multiple sales of Class A Common Stock on May 28, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reported the sale of Class A Common Stock on May 28, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• The transactions involved multiple trades at varying prices, with weighted-average prices ranging from $164.5159 to $168.135 per share.
• A total of 8,241 shares were sold across multiple transactions.
• The shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following the reported transactions, Cannon-Brookes indirectly beneficially owns between 176,907 and 185,048 shares through the trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, reporting 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, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
• However, since the sales are part of a pre-arranged plan, the impact is likely to be limited.

Key Dates