Form 4: Atlassian Co-CEO Sells $1.2M in Shares

Atlassian Co-CEO and Co-Founder Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock for approximately $1.2 million under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's Co-CEO, Co-Founder, Director, and 10% owner, reported sales of Class A Common Stock.
• A total of 7,665 shares were sold on October 29, 2025, through four separate transactions.
• The sales were executed at weighted-average prices ranging from $159.541 to $162.1424 per share.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 329,595 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 4

Explanation: While the sales were pre-planned under a 10b5-1 plan, significant insider selling, even if scheduled, can sometimes be perceived negatively by the market as it reduces the insider's direct stake. However, the amount is relatively small compared to total holdings.

Negatives

• Michael Cannon-Brookes, a significant insider (Co-CEO, Co-Founder, 10% Owner), sold 7,665 shares of Atlassian Class A Common Stock.
• The total value of shares sold is approximately $1,226,400 based on the reported weighted-average prices.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating an indirect beneficial ownership structure.

Stakeholder Impact

• Shareholders may view the insider sale as a slight negative, although the pre-planned nature mitigates immediate concerns about management's confidence. The overall impact is likely minimal given the size of the transaction relative to the company's market capitalization and the insider's remaining holdings.

Key Dates

Recommendation

The filing reports routine insider sales by a co-founder and CEO under a pre-arranged 10b5-1 plan. While insider selling can sometimes be a negative signal, the pre-planned nature suggests it's for personal financial management rather than a reflection of a change in company outlook. The amount sold is also a small fraction of the insider's total holdings. Therefore, this specific filing alone does not warrant a change in investment thesis, leading to a 'hold' recommendation.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, 10b5-1 Plan, Equity Transaction, Director, CEO, Co-Founder, 10% Owner