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

Atlassian's Co-CEO, Michael Cannon-Brookes, executed multiple sales of Class A Common Stock on April 26, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reported the sale of Class A Common Stock on April 26, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• The transactions involved multiple trades at varying prices, with weighted-average prices reported for each set of trades.
• The shares sold are indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following the reported transactions, the number of Class A Common Stock shares indirectly held by the trust decreased.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports stock sales under a pre-arranged plan. There is no indication of positive or negative implications for the company.

Positives

• The sales were executed under a pre-arranged Rule 10b5-1 trading plan, which can mitigate concerns about insider trading.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies. The use of a 10b5-1 plan is a standard practice to allow insiders to sell shares while avoiding accusations of insider trading.

Key Dates