Form 4: Michael Cannon-Brookes Converts Class B Common Stock to Class A Common Stock Under 10b5-1 Plan

Michael Cannon-Brookes, Atlassian's CEO and Co-Founder, converted 373,556 shares of Class B Common Stock into Class A Common Stock on April 1, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On April 1, 2025, Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp, converted 373,556 shares of Class B Common Stock into Class A Common Stock.
• The conversion was executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Each share of Class B Common Stock is convertible into Class A Common Stock on a one-to-one basis at any time at the Reporting Person's election and has no expiration date.
• Following the transaction, Cannon-Brookes beneficially owns 48,630,468 derivative securities indirectly through a trust.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a stock conversion under a pre-existing trading plan, indicating a neutral sentiment.

Future Outlook

The document indicates ongoing sales of Class A Common Stock under a pre-arranged 10b5-1 trading plan.

Industry Context

This filing is a routine disclosure related to insider transactions and is common for executives who have pre-arranged trading plans to diversify their holdings or manage personal finances. It doesn't necessarily reflect a change in the executive's confidence in the company.

Stakeholder Impact

• The conversion and potential sale of shares may have a minor impact on shareholders due to the increased float of Class A shares.

Key Dates

Keywords

Form 4, Atlassian, TEAM, Michael Cannon-Brookes, Class B Common Stock, Class A Common Stock, Rule 10b5-1, Conversion, CBC Co Pty Limited, Cannon-Brookes Head Trust, Beneficial Ownership, Director, CEO, Co-Founder