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

Atlassian's Co-CEO, Michael Cannon-Brookes, executed multiple sales of Class A Common Stock on August 15, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, sold shares of Class A Common Stock on August 15, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• A total of 3,956 shares were sold at a weighted-average price of $145.6628, with individual prices ranging from $145.04 to $146.03.
• An additional 3,842 shares were sold at a weighted-average price of $146.425, with individual prices ranging from $146.04 to $147.03.
• Finally, 150 shares were sold at a weighted-average price of $147.0933, with individual prices ranging from $147.07 to $147.13.
• Following these transactions, Cannon-Brookes indirectly owns 246,388 shares through a trust.

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, 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 accusations of trading on non-public information.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.

Key Dates