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 10, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-CEO, Director, and 10% Owner of Atlassian Corp (TEAM), reported sales of Class A Common Stock.
• A total of 7,665 shares were sold on October 10, 2025, through multiple transactions.
• The sales were executed at weighted-average prices ranging from $144.8955 to $148.9011 per share.
• The transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
• Following these transactions, Mr. Cannon-Brookes indirectly beneficially owns 429,240 Class A Common Stock shares through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• The total value of shares sold amounts to approximately $1,117,931.62.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can sometimes be perceived negatively, the fact that these sales were conducted under a pre-arranged Rule 10b5-1 trading plan mitigates concerns that the sales are based on new, adverse material non-public information. It is a routine personal financial planning event.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating the transactions were scheduled in advance and not based on new, material non-public information.

Negatives

• Insider selling, even if pre-planned, reduces the direct ownership stake of a key executive, which some investors might interpret as a slight reduction in conviction, though often for personal financial planning.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

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 an individual insider transaction and does not provide broader industry trends or competitive analysis.

Related Party Transactions

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

Stakeholder Impact

• Shareholders may observe a minor reduction in the Co-CEO's direct ownership stake, though the impact is mitigated by the pre-planned nature of the sales.

Next Steps

• The Reporting Person undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

Key Dates

Recommendation

This Form 4 filing reports a routine, pre-scheduled insider sale under a 10b5-1 plan. Such transactions are typically for personal financial management and do not usually signal a change in the company's fundamental outlook or warrant a significant shift in investment strategy. Therefore, a 'hold' recommendation is appropriate as this filing alone does not provide new material information to alter an existing investment thesis.

Keywords

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