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

Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reports multiple sales of Class A Common Stock executed on March 26, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, filed a Form 4 detailing changes in beneficial ownership.
• On March 26, 2024, Cannon-Brookes sold shares of Atlassian Class A Common Stock through multiple transactions.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• The transactions involved the sale of 2,669 shares at an average price of $194.26, 154 shares at an average price of $194.8927, 2,286 shares at an average price of $193.3626, and 3,132 shares at an average price of $192.3207.
• Following these transactions, Cannon-Brookes continues to beneficially own shares indirectly through a trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock sales by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Industry Context

Sales by company executives are a common occurrence, often planned in advance to avoid accusations of insider trading. The use of a 10b5-1 plan allows insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.

Key Dates