Form 4: Atlassian Co-CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Trading Plan
SEC Form 4
Atlassian's Co-CEO, Michael Cannon-Brookes, sold shares of Class A Common Stock on April 1, 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 1, 2024.
- The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 21, 2023.
- A total of 8,191 shares were sold at weighted-average prices ranging from $193.1719 to $195.65.
- The sales were executed in multiple trades at varying prices within the specified ranges.
- Following the reported transactions, Cannon-Brookes indirectly owns 506,547 shares through a trust.
- The shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock sales by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This is a routine disclosure of insider trading activity. It is common for executives to sell shares under pre-arranged trading plans to avoid accusations of insider trading.
Stakeholder Impact
- The stock sales could have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.
Key Dates
| Date | Description |
|---|---|
| 02/21/2023 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| 04/01/2024 | Date of the stock sale transactions |
| 04/02/2024 | Date of the Form 4 filing |
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