Form 4: Atlassian Co-CEO Sells $1.3M in Shares

Atlassian Co-CEO and 10% owner Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock for approximately $1.33 million under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO, Director, and 10% Owner of Atlassian Corp, reported the sale of 7,665 shares of Class A Common Stock.
• The sales occurred on September 17, 2025, at weighted-average prices ranging from $172.1199 to $176.72 per share.
• The total value of these sales amounted to approximately $1,330,325.94.
• All transactions were executed pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 68,985 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which typically indicates a scheduled liquidity event rather than a discretionary sale based on new information. This makes the transaction largely neutral in terms of immediate sentiment.

Negatives

• The reduction in indirect insider ownership, even if planned, slightly decreases the alignment of interests between management and shareholders.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: A decrease in indirect insider ownership, though significant holdings remain through a trust.

Key Dates

Recommendation

The insider sales by Michael Cannon-Brookes were conducted under a pre-arranged Rule 10b5-1 trading plan, which is a common practice for executives to manage personal finances and diversify holdings without implying a negative outlook on the company. These are scheduled transactions and do not typically signal new material information that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate, maintaining current positions based on broader company fundamentals rather than this routine insider transaction.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, CEO, Director, 10% Owner