Form 4: Atlassian Co-CEO Michael Cannon-Brookes Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Atlassian's Co-CEO, Michael Cannon-Brookes, executed multiple sales of Class A Common Stock on August 27, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, sold shares of Class A Common Stock on August 27, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
- The transactions involved multiple trades at varying prices.
- A total of 1,741 shares were sold at a weighted-average price of $165.2318.
- An additional 918 shares were sold at a weighted-average price of $166.4253.
- Another 5,289 shares were sold at a weighted-average price of $164.386.
- The shares sold were indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
- Following the reported transactions, Cannon-Brookes indirectly owns 182,804 to 189,011 shares through the trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock sales by an executive. It doesn't inherently convey positive or negative sentiment.
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 stock sale by a high-profile executive could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this.
Key Dates
| Date | Description |
|---|---|
| 2024-02-08 | Date of adoption of Rule 10b5-1 trading plan. |
| 2024-08-27 | Date of stock sale transactions. |
| 2024-08-28 | Date of signature of the SEC Form 4. |
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