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, sold shares of Class A Common Stock on March 25, 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 March 25, 2024.
• These transactions were carried out 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 of $190.7205, $191.5756, $192.5605, and $193.2363.
• The total number of shares sold was 1,362, 1,278, 4,293 and 1,308 respectively.
• Following these transactions, Cannon-Brookes directly owns no shares, but indirectly owns 24,723 to 31,602 shares through a trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales under a pre-arranged plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

Executive stock sales are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares without being accused of trading on non-public information. The market will often scrutinize these sales for any potential implications about the company's future prospects, although pre-planned sales are generally viewed as less significant.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially creating downward pressure on the stock price in the short term.
• However, given the pre-planned nature of the sales, the impact is likely to be minimal.

Key Dates