Form 4: Atlassian Co-Founder Michael Cannon-Brookes Reports Sale of Over 7,600 Shares

Atlassian Corp CEO and Co-Founder Michael Cannon-Brookes reported the sale of 7,665 shares of Class A Common Stock on June 30, 2025, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO, Co-Founder, Director, and 10% Owner of Atlassian Corp (TEAM), reported transactions on June 30, 2025.
• He disposed of a total of 7,665 shares of Class A Common Stock across three separate transactions.
• The shares were sold at weighted-average prices of $203.3773 (4,653 shares), $202.6967 (2,748 shares), and $204.1238 (264 shares).
• These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
• Following these transactions, Mr. Cannon-Brookes directly beneficially owns 3,276 shares of Class A Common Stock.
• Additional shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The document is a routine Form 4 filing reporting insider stock sales under a pre-arranged 10b5-1 plan. This type of transaction is common for executive financial planning and does not inherently indicate positive or negative sentiment regarding the company's performance or future prospects.

Positives

• The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned and transparent sale rather than an immediate reaction to market conditions.

Negatives

• Insider selling, even if pre-arranged, can sometimes be perceived by investors as a lack of confidence, though it is a common practice for personal financial planning.

Risks

• No specific risks to the company's operations or financial health are disclosed in this Form 4 filing. The only potential risk is the perception of insider selling, which is inherent to such disclosures.

Future Outlook

This Form 4 filing reports past transactions and does not contain any forward-looking statements or guidance regarding Atlassian Corp's future outlook.

Management Comments

• The transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2025.
• The Reporting Person hereby 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.

Industry Context

This filing is a standard disclosure of an insider stock transaction and does not provide specific insights into broader industry trends or competitive landscape. Such transactions are common for executives for personal financial management.

Comparison to Industry Standards

• This document reports an insider stock sale, which is a routine disclosure. There are no specific company or project results to compare against industry benchmarks. Insider sales under 10b5-1 plans are a common practice across publicly traded companies for executive liquidity and diversification, aligning with general industry standards for transparent insider trading.

Corporate Governance

Related Party Transactions

• Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating a common arrangement for executive beneficial ownership.

Stakeholder Impact

• Shareholders: The sale of shares by a key executive may lead to minor concerns about insider confidence, though the 10b5-1 plan mitigates this by demonstrating pre-planning.
• Employees, Customers, Suppliers, Creditors: No direct impact on these stakeholders is indicated by this insider transaction report.

Next Steps

• No specific future actions or milestones for Atlassian Corp are mentioned in this insider transaction report.

Key Dates

Keywords

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