Form 4: Atlassian Co-CEO Sells Shares Under 10b5-1 Plan

Atlassian Co-CEO Michael Cannon-Brookes sold 7,665 Class A Common Stock shares on October 27, 2025, as part of a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO, Director, and 10% Owner of Atlassian Corp, sold a total of 7,665 shares of Class A Common Stock.
• The sales occurred on October 27, 2025, through three separate transactions.
• These transactions were executed under a Rule 10b5-1 trading plan, which was adopted on February 20, 2025.
• The shares were sold at weighted-average prices ranging from $164.6045 to $166.337 per share.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 344,925 shares through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While an insider sale can be perceived negatively, the fact that it was executed under a pre-arranged 10b5-1 plan mitigates concerns about its implications for the company's immediate prospects. It represents a planned liquidity event rather than a reactive decision.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned divestment rather than a reaction to new, negative information, which can reduce market speculation.

Negatives

• An insider sale, even if planned, reduces the insider's direct equity stake, which some investors may interpret as a slight reduction in conviction or a move towards diversification.

Risks

• No specific risks are mentioned in this Form 4 filing beyond the general perception associated with insider sales, which could be misinterpreted by some market participants if the context of the 10b5-1 plan is overlooked.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing, which is solely focused on reporting an insider transaction.

Management Comments

• The transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2025.

Industry Context

This filing reports a routine insider transaction and does not provide information relevant to broader industry trends or competitive landscape analysis.

Comparison to Industry Standards

• NA

Related Party Transactions

• Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating a related entity holding for the beneficial ownership.

Stakeholder Impact

• Shareholders may note the reduction in the Co-CEO's indirect equity stake, though the pre-planned nature of the sale under a 10b5-1 plan lessens any negative signal regarding the company's future performance.

Next Steps

• No specific future actions, events, or milestones are mentioned in this Form 4 filing.

Key Dates

Recommendation

The filing reports a routine, pre-scheduled insider sale under a 10b5-1 plan. This type of transaction typically does not reflect new material information about the company's performance or outlook. Therefore, it does not provide a basis for changing an investment thesis, and a 'hold' recommendation is appropriate based solely on this filing.

Keywords

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