Form 4: Atlassian Co-CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Trading Plan
SEC Form 4 Filing
Atlassian's Co-CEO, Michael Cannon-Brookes, sold shares of Class A Common Stock on August 12, 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 August 12, 2024.
- The sales were conducted under a Rule 10b5-1 trading plan adopted on February 8, 2024.
- A total of 4,593 shares were sold at a weighted average price of $141.0424, with individual prices ranging from $140.52 to $141.50.
- An additional 1,100 shares were sold at a weighted average price of $141.7259, with individual prices ranging from $141.53 to $142.26.
- Another 2,255 shares were sold at a weighted average price of $140.1686, with individual prices ranging from $139.52 to $140.51.
- Following these transactions, Cannon-Brookes indirectly owns 270,232 shares through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock sales under a pre-arranged trading plan, so it's neutral.
Industry Context
Insider trading activity is always closely watched by investors as it can provide signals, though in this case the trading is pre-planned and disclosed.
Stakeholder Impact
- The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market.
Key Dates
| Date | Description |
|---|---|
| 02/08/2024 | Date of adoption of Rule 10b5-1 trading plan |
| 08/12/2024 | Date of stock sale transactions |
| 08/13/2024 | Date of signature of the Form 4 filing |
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