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 August 28, 2025, under a pre-arranged trading plan.

Summary

• Michael Cannon-Brookes, Co-Founder, Co-CEO, Director, and 10% Owner of Atlassian Corp, reported the sale of 7,665 shares of Class A Common Stock.
• The transactions occurred on August 28, 2025, and were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• The sales were conducted in multiple trades at weighted-average prices ranging from $173.53 to $177.5863 per share.
• Following these transactions, Michael Cannon-Brookes beneficially owns 168,630 shares of Class A Common Stock indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sale of shares by a key executive was conducted under a pre-arranged 10b5-1 trading plan, indicating a planned transaction for personal liquidity or diversification rather than a reaction to new company-specific information, thus maintaining a neutral sentiment.

Positives

• The use of a Rule 10b5-1 trading plan demonstrates adherence to corporate governance best practices, providing transparency and mitigating concerns about insider trading based on material non-public information.

Negatives

• The sale of shares by a key executive, even under a pre-arranged plan, reduces their direct equity stake in the company, which some investors might interpret as a slight reduction in conviction, though often for personal financial planning.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing.

Industry Context

This filing is a routine insider transaction report and does not contain information directly related to broader industry trends or competitive landscape.

Corporate Governance

Stakeholder Impact

• Shareholders: A minor reduction in the co-founder's direct equity stake, which is generally considered routine for personal financial planning when executed under a 10b5-1 plan.

Key Dates

Recommendation

The reported transactions are routine sales by a co-founder under a pre-established 10b5-1 trading plan, which is a common practice for liquidity and diversification. These sales do not typically signal a change in the company's fundamental outlook or warrant an immediate change in investment recommendation.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Corporate Governance