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

Atlassian's Co-CEO, Michael Cannon-Brookes, sold shares of Class A Common Stock on May 6, 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 May 6, 2024.
• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 21, 2023.
• The transactions involved the disposal of shares held indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• The prices per share varied across the transactions, ranging from approximately $180.79 to $185.97.
• A total of 8,231 shares were sold across multiple transactions.
• Following the reported transactions, the number of shares beneficially owned indirectly by Cannon-Brookes through the trust is 300,522.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of stock sales under a pre-arranged trading plan, indicating a neutral sentiment.

Industry Context

Sales by executives are a normal part of corporate governance. The use of a 10b5-1 plan indicates the sales were pre-planned and not based on insider information.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders due to the increased supply of shares in the market.
• The impact is likely to be minimal as the sales were pre-planned and executed under a 10b5-1 trading plan.

Key Dates