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

Atlassian Co-CEO Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock on October 2, 2025, through a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's Co-CEO, Director, and 10% owner, sold a total of 7,665 shares of Class A Common Stock.
• The sales occurred on October 2, 2025, at weighted-average prices ranging from $148.368 to $151.2909 per share.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these sales, Cannon-Brookes indirectly beneficially owns 475,230 shares of Class A Common Stock through the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: Neutral. The sale is part of a pre-arranged 10b5-1 plan, which mitigates negative sentiment often associated with insider selling, as it's not a reaction to new information. The amount sold is also a small fraction of the insider's total holdings.

Positives

• The sale of shares was conducted under a pre-arranged Rule 10b5-1 trading plan, adopted on February 20, 2025, indicating a scheduled transaction rather than a discretionary sale based on new material non-public information.

Negatives

• Michael Cannon-Brookes, a Director, 10% Owner, and Co-CEO, reduced his indirect beneficial ownership of Class A Common Stock by 7,665 shares.

Related Party Transactions

• Shares beneficially owned by Michael Cannon-Brookes are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Stakeholder Impact

• Minor impact on shareholders due to a slight reduction in insider ownership, but the pre-planned nature of the sale lessens concerns about its implications for company performance.

Key Dates

Recommendation

The reported insider sale by Michael Cannon-Brookes is executed under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled transaction rather than a reaction to new material information. While it reduces insider ownership, the amount is relatively small compared to his overall holdings, and such sales are common for long-tenured executives for diversification and liquidity purposes. This filing alone does not provide sufficient new information to alter a fundamental investment thesis for Atlassian.

Keywords

Atlassian, TEAM, insider trading, Form 4, Michael Cannon-Brookes, stock sale, 10b5-1 plan, CEO, director, 10% owner