Form 4: Atlassian Co-Founder Michael Cannon-Brookes Sells Over 7,600 Shares Under Pre-Arranged Plan

Atlassian Corp CEO and Co-Founder Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock on July 23, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, who serves as CEO, Co-Founder, Director, and a 10% Owner of Atlassian Corp (TEAM), sold a total of 7,665 shares of Class A Common Stock.
• The transactions occurred on July 23, 2025.
• The shares were sold at weighted-average prices ranging from $197.13 to $204.5827 per share across multiple trades.
• These sales were conducted pursuant to a Rule 10b5-1 trading plan that was adopted by the Reporting Person on February 20, 2025.
• Following these reported transactions, Michael Cannon-Brookes beneficially owns 367,920 shares of Class A Common Stock, which are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: A neutral score. While insider selling can be perceived negatively, the execution under a Rule 10b5-1 plan mitigates concerns that the sale is based on new, adverse non-public information. It's a pre-scheduled event for personal financial planning.

Positives

• The sales were executed under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled divestment for personal financial planning rather than a reaction to new, adverse company information.

Negatives

• Insider selling, even when pre-planned, reduces the insider's direct equity stake in the company, which can sometimes be perceived as a minor negative signal by some investors.

Future Outlook

NA

Industry Context

This filing reflects a routine insider stock sale by a key executive at a major software company. Such sales are common for diversification or liquidity purposes, especially when conducted under a pre-arranged trading plan, and do not necessarily indicate a change in the company's fundamental industry position or outlook.

Related Party Transactions

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

Stakeholder Impact

• Shareholders: The sale of shares by a key insider, even under a 10b5-1 plan, might lead to minor short-term negative sentiment, but the impact is generally limited given the pre-scheduled nature.

Key Dates

Recommendation

The filing details a routine insider stock sale executed under a pre-arranged 10b5-1 trading plan. This type of transaction is typically for personal financial management and does not signal a change in the company's fundamentals or future prospects. Therefore, it does not warrant a change in investment stance based solely on this filing.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, CEO, Co-Founder, Director, 10% Owner