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

Michael Cannon-Brookes, Co-CEO of Atlassian, reports multiple sales of Class A Common Stock executed on March 8, 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 disclosing sales of Class A Common Stock on March 8, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• A total of 8,241 shares were sold across multiple transactions at prices ranging from approximately $204.55 to $210.64.
• The weighted average sale prices for the transactions ranged from $205.005 to $210.0878.
• The shares were held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following the reported transactions, Cannon-Brookes indirectly beneficially owns between 115,374 and 123,115 shares of Class A Common Stock through the trust.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock sales under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market.
• The impact is likely to be minimal given the pre-planned nature of the sales and the relatively small volume compared to the overall market capitalization of Atlassian.

Key Dates