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 8, 2025, through a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's Co-Founder, CEO, Director, and 10% Owner, reported the sale of 7,665 shares of Class A Common Stock.
• The sales occurred on July 8, 2025, at weighted-average prices ranging from $217.2098 to $219.94 per share.
• These transactions were executed under a Rule 10b5-1 trading plan established on February 20, 2025.
• Following these transactions, Michael Cannon-Brookes beneficially owns 452,235 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 document reports routine insider share sales by a co-founder under a pre-arranged Rule 10b5-1 trading plan, which is a common practice for diversification and liquidity. It does not contain information about the company's operational performance, financial health, or strategic direction, thus maintaining a neutral sentiment regarding the company itself.

Positives

• Transactions were conducted under a Rule 10b5-1 trading plan, indicating pre-scheduled sales rather than opportunistic selling based on new, non-public information.

Negatives

• Michael Cannon-Brookes, a key insider, sold a significant number of shares.

Risks

• Potential market perception risk due to insider share sales, even if pre-planned.

Future Outlook

No forward-looking statements or guidance regarding the company's future performance or strategy are provided in this insider trading report.

Management Comments

• This transaction was 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

Insider trading disclosures, such as Form 4 filings, are standard regulatory requirements for publicly traded companies, providing transparency into executive and director stock transactions. Sales under Rule 10b5-1 plans are a common practice for insiders to manage personal finances while avoiding accusations of trading on material non-public information.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Increased transparency for shareholders regarding insider stock transactions.

Next Steps

• The reporting person undertakes to provide full information regarding the number of shares and prices of transactions upon request to the SEC staff, the issuer, or a security holder.

Key Dates

Recommendation

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Trading, Form 4, Share Sale, 10b5-1 Plan, Beneficial Ownership, Class A Common Stock