Form 4: Atlassian Co-Founder Michael Cannon-Brookes Converts Shares for Planned Sale

Atlassian Co-Founder and CEO Michael Cannon-Brookes converted 490,560 shares of Class B Common Stock into Class A Common Stock on July 1, 2025, in preparation for sales under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, and CEO/Co-Founder of Atlassian Corp (TEAM), reported a change in beneficial ownership.
• On July 1, 2025, 490,560 shares of Class B Common Stock were converted into Class A Common Stock.
• This conversion was executed in connection with sales planned under a Rule 10b5-1 trading plan, which was adopted by Mr. Cannon-Brookes on February 20, 2025.
• The shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
• Each share of Class B Common Stock is convertible into Class A Common Stock on a one-to-one basis at the Reporting Person's election and has no expiration date.
• Following this transaction, Mr. Cannon-Brookes beneficially owns 48,024,933 shares of Class B Common Stock (derivative securities) and 490,560 shares of Class A Common Stock (non-derivative securities) indirectly.

Sentiment

Score: 5

Explanation: The document reports a routine insider stock conversion for a pre-planned sale, which is a standard practice and does not inherently indicate positive or negative sentiment regarding the company's performance or outlook.

Future Outlook

The document indicates future sales of Class A Common Stock are expected to be effected pursuant to the Rule 10b5-1 trading plan adopted on February 20, 2025.

Industry Context

This document details a routine insider stock transaction and does not provide information related to broader industry trends or competitive landscape.

Related Party Transactions

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

Stakeholder Impact

• Shareholders may observe a slight increase in the float of Class A Common Stock as a result of the conversion, preceding potential sales.

Next Steps

• Sales of Class A Common Stock are expected to occur in the future under the Rule 10b5-1 trading plan.

Key Dates

Recommendation

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, insider trading, Form 4, beneficial ownership, Class A Common Stock, Class B Common Stock, 10b5-1 plan, stock conversion