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 the sale of Class A Common Stock on March 6, 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 the sale of Atlassian Class A Common Stock.
• The transactions occurred on March 6, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 21, 2023.
• A total of 8,241 shares were sold at varying prices, ranging from approximately $194.15 to $200.70 per share.
• The sales were conducted in multiple trades throughout the day, with weighted-average prices reported for each set of transactions.
• Following the reported transactions, Michael Cannon-Brookes indirectly owns 131,856 shares of Class A Common Stock through a trust.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to stock sales by an insider under a pre-existing trading plan. It doesn't inherently indicate positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders. The use of a 10b5-1 trading plan allows insiders to sell shares over a period of time without being accused of trading on inside information.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased selling pressure.
• The impact is likely to be minimal given the sales are part of a pre-arranged trading plan.

Key Dates