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 13, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian Corp, executed multiple sales of Class A Common Stock on August 13, 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 indirectly through the Cannon-Brookes Head Trust.
• The prices per share ranged from $141.73 to $146.00 across the various transactions.
• A total of 7,948 shares were sold across the multiple transactions.
• Following the reported transactions, Cannon-Brookes indirectly beneficially owns 262,284 shares through the trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC Form 4 filing, indicating stock sales by an insider under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment about the company's performance or prospects.

Industry Context

Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1, which allows insiders to sell shares at predetermined times and prices to avoid accusations of trading on non-public information. The market typically views these sales in the context of the overall health and prospects of the company.

Key Dates