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

Atlassian's Co-CEO and Co-Founder, Michael Cannon-Brookes, executed sales of Class A Common Stock on June 11, 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 June 11, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• A total of 2,329 shares were sold at a weighted-average price of $162.9167, with prices ranging from $162.52 to $163.40.
• An additional 5,619 shares were sold at a weighted-average price of $162.0939, with prices ranging from $161.52 to $162.51.
• Following the transactions, Cannon-Brookes beneficially owns 100,995 shares indirectly through a trust for the first transaction and 95,376 shares indirectly through a trust for the second transaction.

Sentiment

Score: 5

Explanation: The document is a routine SEC Form 4 filing, indicating insider transactions. The sentiment is neutral as it simply reports facts without expressing any positive or negative outlook.

Industry Context

Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information.

Stakeholder Impact

• The sale of shares by a high-profile executive like Cannon-Brookes could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this.

Key Dates