Form 4: Atlassian Co-CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Trading Plan
SEC Form 4
Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reports multiple sales of Class A Common Stock executed on August 7, 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 August 7, 2024.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
- The transactions involved multiple trades at varying prices throughout the day.
- A total of 9,052 shares were sold at prices ranging from $137.41 to $144.47.
- The sales were conducted through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
- Following the reported transactions, the number of shares held indirectly by trust is between 294,076 and 301,874.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to stock sales by an insider under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to diversify their holdings while avoiding concerns about trading on non-public information.
Key Dates
| Date | Description |
|---|---|
| 02/08/2024 | Date of adoption of Rule 10b5-1 trading plan |
| 08/07/2024 | Date of stock sale transactions |
| 08/08/2024 | Date of signature on the Form 4 filing |
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