Form 4: Atlassian Co-CEO Michael Cannon-Brookes Sells Shares Under 10b5-1 Trading Plan

Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, reports the sale of Class A Common Stock through a series of transactions executed on July 8, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, filed a Form 4 detailing changes in beneficial ownership.
• On July 8, 2024, Cannon-Brookes sold shares of Atlassian Class A Common Stock through multiple transactions.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved the sale of 399 shares at a weighted-average price of $183.6075, 200 shares at $180.7718, 6,798 shares at $182.5729, 100 shares at $185.13 and 451 shares at $181.5884.
• The shares were held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following the reported transactions, Cannon-Brookes indirectly beneficially owns 468,932 shares through the trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to stock sales by an insider. The sentiment is neutral as it simply reports transactions without expressing any positive or negative outlook.

Industry Context

Sales by insiders are a common occurrence and are often planned in advance, especially through mechanisms like 10b5-1 trading plans. It's important to consider the overall context of insider transactions, including the company's performance and industry trends.

Stakeholder Impact

• The stock sale could have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
• The impact on other stakeholders (employees, customers, suppliers, creditors) is likely to be minimal.

Key Dates