Form 4: Atlassian Co-CEO Michael Cannon-Brookes Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Atlassian Co-CEO Michael Cannon-Brookes sold shares of Class A Common Stock on May 21, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian Corp, reported the sale of Class A Common Stock on May 21, 2024.
- The transactions were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
- A total of 2,857 shares were sold at a weighted-average price of $178.9265, with prices ranging from $178.71 to $179.43.
- An additional 5,384 shares were sold at a weighted-average price of $178.1944, with prices ranging from $177.71 to $178.70.
- Following the reported transactions, Cannon-Brookes beneficially owns 215,255 shares indirectly through a trust for the Cannon-Brookes Head Trust and 209,871 shares indirectly through a trust for the Cannon-Brookes Head Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing reporting insider stock sales under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Insider sales are a common occurrence, and the use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on any specific non-public information.
Key Dates
| Date | Description |
|---|---|
| 02/21/2023 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| 05/21/2024 | Date of the reported transactions (stock sales) |
| 05/22/2024 | Date of signature for the Form 4 filing |
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