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

Michael Cannon-Brookes, Co-CEO and Co-Founder of Atlassian, converted 508,672 shares of Class B Common Stock into Class A Common Stock on July 1, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On July 1, 2024, Michael Cannon-Brookes converted 508,672 shares of Atlassian 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 converted shares are held of record by the Reporting Person in connection with sales to be effected pursuant to the 10b5-1 trading plan.
• Following the transaction, Cannon-Brookes beneficially owns 508,672 shares of Class A Common Stock indirectly through a trust.
• He also indirectly owns 49,997,524 derivative securities representing Class A Common Stock.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing related to stock conversion under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment, but rather reflects routine corporate activity.

Future Outlook

The reporting person will continue to execute sales of Class A Common Stock under the 10b5-1 trading plan.

Industry Context

This Form 4 filing is a routine disclosure related to insider transactions and is a common practice for executives of publicly traded companies. The use of 10b5-1 plans allows insiders to sell shares over a period of time while avoiding concerns about insider trading.

Key Dates