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

Michael Cannon-Brookes, Co-CEO of Atlassian, sold shares of Class A Common Stock on March 19, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On March 19, 2024, Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian Corp, sold multiple blocks of Class A Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• The transactions were conducted through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating indirect ownership.
• The prices per share ranged from $190.24 to $197.15 across various transactions.
• The total number of shares sold was 8,241.
• Following these transactions, the number of shares beneficially owned indirectly by Cannon-Brookes through the trust decreased from 62,554 to 57,687.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document reports routine stock sales under a pre-arranged trading plan. There is no indication of positive or negative implications for the company's performance.

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 inside information.

Stakeholder Impact

• The stock sale by a high-profile executive could create short-term uncertainty among shareholders.

Key Dates