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 10, 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 10, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• A total of 8,242 shares were sold at weighted average prices ranging from $199.1012 to $205.0063.
• The shares were sold indirectly through a trust (CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust).
• Following the reported transactions, the number of shares held indirectly by the trust decreased to 448,860.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific non-public information, resulting in a neutral 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.

Stakeholder Impact

• The share sales by a key executive could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates