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 17, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On July 17, 2024, Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, sold shares of 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 8,048 shares were sold at prices ranging from $178.89 to $183.72.
• The sales were conducted through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following the reported transactions, Cannon-Brookes indirectly owns 413,296 shares through the trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by a high-profile executive could have a minor negative impact on shareholder sentiment, although the existence of a pre-arranged trading plan mitigates this concern.

Key Dates