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 April 5, 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 April 5, 2024.
• These transactions were conducted under a pre-existing Rule 10b5-1 trading plan adopted on February 21, 2023.
• The sales were executed at varying prices, with weighted-average prices ranging from $192.56 to $198.6016 per share.
• The sales were executed in multiple trades during the day at prices ranging from $198.41 to $198.82.
• The sales were executed in multiple trades during the day at prices ranging from $193.32 to $194.27.
• The sales were executed in multiple trades during the day at prices ranging from $195.37 to $196.36.
• The sales were executed in multiple trades during the day at prices ranging from $194.33 to $195.17.
• The sales were executed in multiple trades during the day at prices ranging from $196.37 to $197.34.
• The sales were executed in multiple trades during the day at prices ranging from $192.30 to $192.82.
• The sales were executed in multiple trades during the day at prices ranging from $197.40 to $198.39.
• The shares sold were indirectly held by the Cannon-Brookes Head Trust.
• Following the reported transactions, the number of shares beneficially owned by the trust decreased.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions without expressing any opinion on the company's performance or future prospects.

Industry Context

Insider sales are a common occurrence in publicly traded companies, often executed under pre-arranged trading plans like Rule 10b5-1 to avoid accusations of trading on non-public information. The market typically analyzes these sales in the context of the company's performance and future prospects.

Stakeholder Impact

• The stock sales by a high-profile executive like Michael Cannon-Brookes could potentially influence investor sentiment, although the existence of a pre-arranged trading plan may mitigate concerns.

Key Dates