Form 4: Atlassian Co-Founder Michael Cannon-Brookes Sells Over 7,600 Shares Under 10b5-1 Plan

Atlassian Corp's Co-Founder and CEO, Michael Cannon-Brookes, reported the sale of 7,665 shares of Class A Common Stock on July 18, 2025, through a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, and CEO/Co-Founder of Atlassian Corp (TEAM), reported transactions on July 18, 2025.
• The transactions involved the sale of Class A Common Stock.
• A total of 7,665 shares were sold across five separate transactions.
• The sales were executed at weighted-average prices ranging from $190.6048 to $194.5534 per share.
• These sales were conducted pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2025.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 390,915 shares of Class A Common Stock.
• The shares are held by 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 fact that it was conducted under a pre-arranged 10b5-1 plan makes it a routine, non-event-driven transaction for personal financial management, rather than a signal of negative company outlook.

Negatives

• The sale of shares by a key insider, even under a pre-arranged plan, can sometimes be perceived as a slight negative signal, though it is a common practice for diversification and liquidity.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of insider stock transactions, common for executives and significant shareholders of publicly traded companies. It does not provide broader industry context or trends.

Related Party Transactions

• Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating an indirect beneficial ownership structure.

Stakeholder Impact

• Shareholders: The sale of shares by a co-founder and CEO could be interpreted by some as a lack of confidence, but given it's a 10b5-1 plan, it's more likely a planned diversification or liquidity event, with minimal direct impact on company operations or strategy.

Key Dates

Recommendation

Keywords

Atlassian, TEAM, SEC Form 4, Insider Trading, Stock Sale, Michael Cannon-Brookes, 10b5-1 Plan, Class A Common Stock, Corporate Governance