Form 4: Atlassian Co-CEO Michael Cannon-Brookes Sells Class A Common Stock

Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, executed multiple sales of Class A Common Stock on August 28, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On August 28, 2024, Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, sold Class A Common Stock in multiple transactions.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved the sale of 1,368 shares at a weighted-average price of $160.636, 2,748 shares at $162.1018, 1,218 shares at $163.328, and 2,614 shares at $161.4604.
• Following these transactions, Cannon-Brookes directly owns a certain amount of shares and indirectly owns shares through a trust.
• The shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the stock sale was conducted under a pre-planned 10b5-1 trading plan. It doesn't necessarily reflect a positive or negative outlook on the company's future.

Industry Context

Executive stock sales are a common occurrence and are often pre-planned through Rule 10b5-1 trading plans to avoid insider trading accusations. The market typically analyzes the size and frequency of these sales to gauge executive sentiment.

Stakeholder Impact

• The stock sale could have a minor impact on shareholders if it creates downward pressure on the stock price, although the pre-planned nature of the sale mitigates this concern.

Key Dates