Form 4: Atlassian Co-Founder Michael Cannon-Brookes Sells Over 7,600 Shares Under Pre-Arranged Trading Plan
Insider Transaction Report
Atlassian Co-Founder and Co-CEO Michael Cannon-Brookes executed multiple sales of Class A Common Stock totaling 7,665 shares on July 10, 2025, under a pre-existing Rule 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, Atlassian's Co-Founder, CEO, Director, and 10% owner, sold a total of 7,665 shares of Class A Common Stock on July 10, 2025.
- The sales were executed at weighted-average prices ranging from $200.4138 to $217.1692 per share.
- These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
- Following these transactions, Michael Cannon-Brookes' indirect beneficial ownership, held through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, stands at 436,905 Class A Common Stock shares.
Sentiment
Score: 5
Explanation: The insider sales by Michael Cannon-Brookes are part of a pre-arranged 10b5-1 trading plan, which is a routine practice for executives to manage personal finances and diversify holdings. This typically does not signal a change in company fundamentals or management's outlook.
Positives
- The sales were conducted under a Rule 10b5-1 trading plan, indicating they were pre-scheduled and not based on new, non-public information, which mitigates concerns about opportunistic insider selling.
Negatives
- Insider selling, even if pre-planned, can sometimes be perceived neutrally to slightly negatively by investors as it reduces the insider's direct stake in the company.
Future Outlook
NA
Industry Context
NA
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Insider Trading Plan | Michael Cannon-Brookes adopted a Rule 10b5-1 trading plan on February 20, 2025, to facilitate the systematic sale of Atlassian Class A Common Stock. | 2025-02-20 | This plan provides an affirmative defense against insider trading allegations by pre-scheduling transactions, enhancing transparency and compliance with SEC regulations. |
Related Party Transactions
- Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating a transaction involving a related entity for beneficial ownership.
Stakeholder Impact
- Shareholders: The sale of shares by a co-founder and CEO, even if pre-planned, could be interpreted by some as a slight reduction in management's direct alignment with shareholder interests, though the 10b5-1 plan mitigates this concern. The total number of shares sold (7,665) is a very small fraction of the total shares beneficially owned (436,905 after the transactions), so the impact on overall ownership structure is minimal.
Key Dates
| Date | Description |
|---|---|
| 2025-02-20 | Date Rule 10b5-1 trading plan was adopted by Michael Cannon-Brookes. |
| 2025-07-10 | Date of multiple Class A Common Stock sales by Michael Cannon-Brookes. |
| 2025-07-11 | Date the Form 4 was signed and filed. |
Keywords
Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, SEC Filing, 10b5-1 Plan, Stock Transaction, Corporate Governance, Equity Sales
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