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

Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reported the sale of Class A Common Stock on May 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 Atlassian Class A Common Stock on May 7, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• A total of 8,741 shares were sold in multiple transactions at varying prices.
• The shares were sold at prices ranging from $179.24 to $184.90.
• 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 292,281.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock sales by an executive. It doesn't contain information that would significantly shift investor sentiment positively or negatively.

Industry Context

This filing is a routine disclosure of insider transactions and doesn't necessarily indicate a change in the company's prospects. It is common for executives to use 10b5-1 plans to diversify their holdings and avoid accusations of insider trading.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market.

Key Dates