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

Atlassian's Co-CEO Michael Cannon-Brookes sold shares of Class A Common Stock on August 2, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian Corp, executed multiple sales of Class A Common Stock on August 2, 2024.
• These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
• The sales were executed at varying prices, with weighted-average prices ranging from $141.9545 to $152.56 per share.
• 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 317,920 and 325,268 shares of Class A Common Stock through the trust.

Sentiment

Score: 5

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

Industry Context

Sales by executives are a normal part of corporate activity, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information.

Stakeholder Impact

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

Key Dates