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

Atlassian Co-Founder and Co-CEO Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock on November 3, 2025, pursuant to a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's Co-Founder, CEO, Director, and 10% Owner, reported sales of Class A Common Stock.
• A total of 7,665 shares were sold on November 3, 2025.
• The sales were executed at weighted-average prices ranging from $167.8519 to $176.3907 per share.
• These transactions were conducted under a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 306,600 shares of Class A Common Stock through the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: Neutral. While insider selling can be perceived negatively, the existence of a Rule 10b5-1 plan mitigates concerns as it indicates pre-scheduled, non-discretionary sales, often for diversification or liquidity purposes, rather than a reaction to negative company-specific news.

Positives

• The transactions were executed pursuant to a Rule 10b5-1 trading plan, indicating pre-scheduled, non-discretionary sales for personal financial management rather than a reaction to new, non-public information.

Negatives

• Insider selling, even under a 10b5-1 plan, reduces the direct equity stake of a key executive, which can sometimes be perceived negatively by the market.

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 indirect beneficial ownership through a related entity.

Stakeholder Impact

• Shareholders may note the reduction in direct equity holdings by a key executive, though the 10b5-1 plan context suggests a routine, pre-planned transaction.

Key Dates

Recommendation

The reported transactions are routine sales executed under a pre-arranged Rule 10b5-1 trading plan. These sales are typically for personal financial planning, diversification, or liquidity and do not necessarily reflect a change in management's outlook on the company's fundamentals. Given the pre-scheduled nature, this filing alone does not provide new information to warrant a change in investment thesis, thus a 'hold' recommendation is appropriate.

Keywords

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