[Form 3] Abbott Laboratories Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Form 4 filed 07/01/2025: Atlassian Corporation (TEAM) Co-Founder, CEO, Director and 10% owner Michael Cannon-Brookes converted 490,560 Class B shares into Class A shares (Transaction Code C). The Class B shares were held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. The conversion was executed in connection with sales to be effected under a Rule 10b5-1 trading plan adopted on 02/20/2025.

Following the transaction, Cannon-Brookes’ reported holdings are:

• Class A common stock: 490,560 shares (indirect)
• Class B common stock (convertible one-for-one with no expiration): 48,024,933 shares (indirect)

No price was paid for the conversion (exercise price $0.00). The filing signals preparation for future open-market sales while complying with Section 16 reporting obligations and the updated Rule 10b5-1 affirmative-defense conditions.

Positive

• Transparent disclosure under Section 16 with explicit reference to a Rule 10b5-1 plan, aligning with recent SEC guidance.

Negative

• Potential upcoming insider sale signaled by conversion, introducing a modest supply overhang of 490,560 Class A shares.

Insights

Securities Analyst

TL;DR – Insider converts 490k B to A shares, likely preceding planned sales; modest supply overhang, governance impact small.

The CEO’s shift of 490,560 super-voting Class B shares into regular Class A increases the free-float marginally and reduces his voting power by an immaterial fraction (≈1% of his total B stake). The conversion itself is cost-free and does not change the overall economic exposure, but the footnote links it to a Rule 10b5-1 plan, indicating forthcoming disposals. Near-term, the market may view the planned sale as a minor negative due to incremental supply; however, scale is limited relative to the ~48 million B shares he still controls. Governance dilution is minimal, so valuation impact should remain muted.

Corporate Governance Expert

TL;DR – Routine one-for-one conversion; transparency enhanced by 10b5-1 disclosure; control structure largely unchanged.

Class B holders enjoy 10× voting rights, so converting a small block into Class A slightly narrows the dual-class gap while boosting public float. The explicit mention of a pre-planned 10b5-1 program demonstrates procedural compliance, reducing litigation risk under new SEC rules. Given the CEO retains >48 million Class B shares, the transaction does not materially alter control dynamics.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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1. Name and Address of Reporting Person^*

Cushman Elizabeth C.

(Last) (First) (Middle)

100 ABBOTT PARK ROAD

(Street)

ABBOTT PARK IL 60064

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/27/2025

3. Issuer Name and Ticker or Trading Symbol
ABBOTT LABORATORIES [ ABT ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, GC AND SECRETARY

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common shares without par value	21,436	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option (right to buy)	(1)	02/16/2033	Common shares	10,439	$106.24	D
Option (right to buy)	(2)	02/20/2034	Common shares	9,717	$116.98	D
Option (right to buy)	(3)	02/24/2035	Common shares	20,606	$135.42	D

Explanation of Responses:

1. Employee stock option granted pursuant to the Abbott Laboratories 2017 Incentive Stock Program in a transaction exempt from Section 16 under Rule 16b-3. The option becomes exercisable in annual increments of 3,479 on February 17, 2024, 3,480 on February 17, 2025, and 3,480 on February 17, 2026.

2. Employee stock option granted pursuant to the Abbott Laboratories 2017 Incentive Stock Program in a transaction exempt from Section 16 under Rule 16b-3. The option becomes exercisable in annual increments of 3,239 on February 21, 2025, 3,239 on February 21, 2026, and 3,239 on February 21, 2027.

3. Employee stock option granted pursuant to the Abbott Laboratories 2017 Incentive Stock Program in a transaction exempt from Section 16 under Rule 16b-3. The option becomes exercisable in annual increments of 6,868 on February 25, 2026, 6,869 on February 25, 2027 and 6,869 on February 25, 2028.

	/s/ Elizabeth C. Cushman by Jessica H. Paik, Attorney-in-Fact	07/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

How many Atlassian shares did CEO Michael Cannon-Brookes convert on 07/01/2025?

He converted 490,560 Class B shares into Class A shares.

What share classes were involved in the Atlassian (TEAM) Form 4 filing?

Class B common stock was converted into Class A common stock on a one-for-one basis.

Does the filing indicate future sales of Atlassian shares?

Yes. The conversion is "in connection with sales to be effected" under a Rule 10b5-1 trading plan adopted on 02/20/2025.

How many Class B shares does Cannon-Brookes still hold after the transaction?

He beneficially owns 48,024,933 Class B shares following the reported conversion.

Was there any cost associated with the share conversion?

No. The exercise/conversion price was reported as $0.00.