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

Atlassian CEO Michael Cannon-Brookes sold shares of Class A Common Stock on April 28, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian, sold shares of Class A Common Stock on April 28, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved multiple trades at varying prices, with weighted-average prices ranging from $227.5239 to $231.427.
• A total of 7,948 shares were sold across five separate transactions.
• The shares were indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Following the reported transactions, Cannon-Brookes indirectly beneficially owns between 222,544 and 229,092 shares through the trust.

Sentiment

Score: 5

Explanation: The document is neutral in sentiment as it simply reports stock sales under a pre-existing trading plan. There is no indication of positive or negative implications for the company.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure of insider trading activity. It's common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information. The impact on Atlassian's stock price is likely to be minimal, as these sales are pre-planned and disclosed.

Comparison to Industry Standards

• Similar insider sales are common among executives at publicly traded tech companies like Atlassian, such as sales by executives at comparable companies like Salesforce (CRM) or Adobe (ADBE).
• The use of a 10b5-1 trading plan is a standard practice to ensure compliance with insider trading regulations, mirroring practices at companies like Microsoft (MSFT) and Amazon (AMZN).

Stakeholder Impact

• The stock sale may have a minor impact on shareholders due to the increased supply of shares, but the effect is likely to be minimal given the pre-planned nature of the transaction.
• The impact on employees, customers, suppliers, and creditors is expected to be negligible.

Key Dates

Keywords

Atlassian, Michael Cannon-Brookes, TEAM, insider trading, SEC Form 4, Rule 10b5-1, stock sale, Class A Common Stock, CBC Co Pty Limited, Cannon-Brookes Head Trust