Form 4: Atlassian Co-CEO Michael Cannon-Brookes Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, sold shares of Class A Common Stock on April 18, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On April 18, 2024, Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, disposed of Class A Common Stock.
- The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
- The transactions involved multiple trades at varying prices, ranging from $193.53 to $198.75 per share.
- A total of 9,731 shares were sold, resulting in a decrease in indirect beneficial ownership held by the Cannon-Brookes Head Trust.
- Following the reported transactions, the Cannon-Brookes Head Trust indirectly holds 399,414 shares of Atlassian Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a routine SEC Form 4 filing, indicating stock sales by an insider under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Sales by insiders are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific non-public information.
Key Dates
| Date | Description |
|---|---|
| February 21, 2023 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| April 18, 2024 | Date of the reported transactions (sale of shares) |
| April 19, 2024 | Date of the signature on the SEC Form 4 |
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