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 for approximately $1.34 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 Class A Common Stock.
• A total of 7,665 shares were sold on September 12, 2025, across three separate transactions.
• The sales were executed at weighted-average prices ranging from $174.6063 to $176.4988 per share.
• The total value of the shares sold amounts to approximately $1,342,646.78.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan, which was adopted by Mr. Cannon-Brookes on February 20, 2025.
• Following these transactions, Mr. Cannon-Brookes indirectly beneficially owns 91,980 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can sometimes be viewed negatively, the execution under a pre-arranged 10b5-1 plan indicates a planned liquidity event rather than a reaction to new, adverse company information, thus mitigating significant negative sentiment.

Positives

• The transactions were executed under a pre-arranged Rule 10b5-1 trading plan, indicating planned liquidity management rather than a reaction to new negative information.

Negatives

• Insider selling, even when pre-planned, can sometimes be interpreted by the market as a signal, though the 10b5-1 plan mitigates this concern.

Risks

• No specific new risks are introduced by this Form 4 filing beyond the general market perception of insider selling.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding Atlassian's future performance or strategic direction.

Industry Context

This filing is specific to an insider's personal stock transactions and does not provide broader insights into industry trends or competitive landscape.

Related Party Transactions

• Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, which is a common structure for insider holdings.

Stakeholder Impact

• Shareholders may note the insider selling, but the pre-planned nature under a 10b5-1 plan generally reduces concerns about management's confidence in the company's immediate prospects.

Key Dates

Recommendation

The insider sales by Michael Cannon-Brookes were executed under a pre-arranged 10b5-1 trading plan, which suggests a planned liquidity event rather than a reaction to new material information. While insider selling can sometimes be a negative signal, the pre-planned nature reduces its immediate impact on investment decisions. Therefore, a 'hold' recommendation is appropriate as this filing alone does not provide sufficient new information to alter a fundamental investment thesis.

Keywords

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