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, reports multiple sales of Class A Common Stock executed on March 14, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates multiple sales of Class A Common Stock on March 14, 2024.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• The sales were conducted at varying prices, with weighted-average prices reported for each set of transactions.
• The shares are held indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• The reporting person undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer or a security holder of the issuer.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to stock sales under a pre-arranged trading plan, indicating a neutral sentiment.

Industry Context

Sales by executives are a normal part of corporate governance. The fact that these sales were executed under a 10b5-1 plan suggests they were pre-planned and not based on any inside information.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.
• The sales do not appear to directly impact employees, customers, suppliers, or creditors.

Key Dates