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

Atlassian Corp's Co-Founder and CEO, Michael Cannon-Brookes, sold 7,665 shares of Class A Common Stock on July 2, 2025, through a pre-established Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, and Co-Founder/CEO of Atlassian Corp (TEAM), reported the sale of Class A Common Stock.
• On July 2, 2025, a total of 7,665 shares were disposed of across five separate transactions.
• The sales were executed at weighted-average prices ranging from $201.58 to $206.5293 per share.
• Specifically, 750 shares were sold at $206.5293, 800 shares at $203.6765, 3,965 shares at $205.3927, 250 shares at $201.58, and 1,900 shares at $204.5532.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
• Following these transactions, Michael Cannon-Brookes beneficially owns 475,230 shares of Class A Common Stock indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine, pre-planned insider sale under a Rule 10b5-1 plan, which is a standard practice for executives to manage their equity holdings and does not typically signal a change in company fundamentals or outlook.

Positives

• The sales were conducted under a Rule 10b5-1 trading plan, which indicates the transactions were pre-scheduled and not based on material non-public information, enhancing transparency and reducing concerns about opportunistic insider trading.

Negatives

• The sale of shares by a key insider, even if pre-planned, can sometimes be perceived by the market as a lack of confidence, although this is largely mitigated by the existence of a 10b5-1 plan.

Future Outlook

NA

Industry Context

This filing reports a routine insider stock transaction for Atlassian Corp, a software company. Such transactions are common across all industries for executives managing their personal portfolios, especially when executed under pre-arranged Rule 10b5-1 plans, which are standard practice for compliance.

Corporate Governance

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 common for high-net-worth individuals.

Stakeholder Impact

• Shareholders: The sale is a routine insider transaction under a 10b5-1 plan, which generally has minimal direct impact on shareholder value or perception beyond the immediate market reaction to any insider sale. The pre-planned nature mitigates concerns.
• Employees: No direct impact on employees is indicated by this filing.
• Customers: No direct impact on customers is indicated by this filing.
• Suppliers: No direct impact on suppliers is indicated by this filing.
• Creditors: No direct impact on creditors is indicated by this filing.

Key Dates

Recommendation

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, SEC Filing, Stock Transaction, Rule 10b5-1, Corporate Governance, Equity