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

Atlassian Co-CEO Michael Cannon-Brookes sold shares of Class A Common Stock on April 22, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian Corp, sold shares of Class A Common Stock on April 22, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• A total of 8,141 shares were sold at various prices ranging from $189.18 to $196.41.
• The transactions were executed in multiple trades throughout the day, with weighted-average prices reported for each set of trades.
• The shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following the reported transactions, the number of shares beneficially owned indirectly by the trust is 382,932.

Sentiment

Score: 5

Explanation: The document is a routine SEC Form 4 filing, indicating insider selling under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about transactions.

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 at predetermined times and prices, avoiding concerns about trading on non-public information.

Stakeholder Impact

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

Key Dates