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 July 19, 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 July 19, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
- A total of 3,188 shares were sold at a weighted average price of $175.4357, 300 shares at $176.7667, and 4,460 shares at $176.1998.
- The sales were conducted in multiple trades at varying prices within specified ranges.
- Following the reported transactions, Cannon-Brookes indirectly owns 402,160, 401,860 and 397,400 shares through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports stock sales under a pre-arranged trading plan, which is a common and legal practice.
Industry Context
Sales by insiders are a common occurrence and are often planned in advance using Rule 10b5-1 trading plans to avoid accusations of trading on inside information. The market typically analyzes the size and frequency of such sales to gauge insider sentiment.
Key Dates
| Date | Description |
|---|---|
| 02/08/2024 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| 07/19/2024 | Date of the stock sale transactions |
| 07/22/2024 | Date of the Form 4 filing |
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