Form 4: Atlassian Co-CEO Michael Cannon-Brookes Reports Stock Sales Under 10b5-1 Plan
SEC Form 4 Filing
Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reports the sale of Class A Common Stock through 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 Class A Common Stock.
- The transactions occurred on April 16, 2024, and were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
- A total of 8,241 shares were sold at prices ranging from $192.05 to $195.36.
- The sales were conducted through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
- Following the reported transactions, the trust beneficially owns 415,896 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock sales under a pre-arranged plan. It doesn't inherently convey positive or negative sentiment.
Future Outlook
The filing indicates ongoing stock sales under a pre-arranged trading plan, suggesting a continuation of this activity.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to diversify their holdings and avoid accusations of trading on inside information.
Stakeholder Impact
- The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market.
Key Dates
| Date | Description |
|---|---|
| February 21, 2023 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| April 16, 2024 | Date of the reported stock sales |
| April 17, 2024 | Date of the signature on the Form 4 filing |
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