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

Michael Cannon-Brookes, Co-CEO of Atlassian, reports multiple sales of Class A Common Stock on April 2, 2024, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, filed a Form 4 disclosing sales of Class A Common Stock on April 2, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• The transactions involved multiple sales at varying prices, ranging from $191.14 to $196.30 per share.
• A total of 8,241 shares were sold, resulting in a decrease in the number of shares indirectly beneficially owned through a trust.
• Following the reported transactions, Cannon-Brookes indirectly beneficially owns 502,718 shares through the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to stock sales by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Industry Context

This filing is a routine disclosure of stock sales by a company insider and is a common practice for executives to diversify their holdings or manage personal finances. The use of a 10b5-1 trading plan suggests that these sales were pre-planned and not based on any inside information.

Key Dates