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

Michael Cannon-Brookes, Co-CEO of Atlassian, sold Class A Common Stock on February 26, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reported the sale of Class A Common Stock on February 26, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• A total of 3,831 shares were sold at prices ranging from $201.84 to $207.02.
• The sales were conducted in multiple trades throughout the day, with weighted-average prices reported for each transaction.
• The shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following the reported transactions, Cannon-Brookes beneficially owns 189,543 shares indirectly through the trust.

Sentiment

Score: 5

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

Industry Context

Sales by insiders are a common occurrence and are often pre-planned to avoid accusations of trading on inside information. 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 causing a slight decrease in stock price due to increased selling pressure.
• The sales do not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates