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 July 23, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On July 23, 2024, Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, sold Class A Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved multiple trades at varying prices throughout the day.
• A total of 8,948 shares were sold at prices ranging from $169.48 to $176.97.
• The sales resulted in a decrease in the number of shares indirectly beneficially owned by Cannon-Brookes through a trust.
• Following the reported transactions, Cannon-Brookes indirectly beneficially owns 381,504 shares through the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, reporting stock sales by a company executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies and are often part of personal financial planning. The use of a 10b5-1 trading plan allows insiders to sell shares at predetermined times and prices, avoiding accusations of insider trading.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.
• The impact is likely to be minimal given the relatively small number of shares sold compared to the total outstanding shares.

Key Dates