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

Atlassian CEO Michael Cannon-Brookes executed multiple sales of Class A Common Stock on May 20, 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 May 20, 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 reported for each set of transactions.
• A total of 4,358 shares were sold at prices ranging from $212.05 to $215.46.
• 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 owns 95,376 to 103,174 shares through the trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. The sentiment is neutral as it simply reports the sale of shares under a pre-existing trading plan.

Industry Context

Sales by insiders are a common occurrence and are often pre-planned to avoid accusations of trading on inside information. The use of a 10b5-1 plan allows insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The sale of shares by the CEO could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates this concern.

Key Dates

Keywords

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