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, sold shares of Class A Common Stock on April 24, 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 April 24, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• A total of 8,340 shares were sold in multiple transactions at varying prices.
• The weighted average sale prices ranged from $199.0205 to $201.345 per share.
• Following the reported transactions, Cannon-Brookes beneficially owns 366,450 shares indirectly through a trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, reporting stock sales by an insider under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment, as these transactions are often planned well in advance for personal financial management.

Industry Context

Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1, which allows insiders to sell shares at predetermined times and prices to avoid accusations of trading on non-public information. The market typically views these sales in the context of the overall trading plan and the insider's remaining holdings.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply, but the effect is likely minimal given the pre-planned nature of the transaction.

Key Dates