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

Michael Cannon-Brookes, Co-CEO of Atlassian, reports multiple sales of Class A Common Stock executed on May 2, 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 2, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• The transactions involved multiple sales at varying prices throughout the day.
• The sales were conducted through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• The total number of shares sold was 8,441.
• The price per share ranged from $177.20 to $186.26.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, reporting stock sales by an insider 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 causing a slight decrease in stock price due to increased supply.
• The impact is likely to be minimal given the sales are part of a pre-arranged trading plan.

Key Dates