Form 4: Atlassian Co-Founder Michael Cannon-Brookes Sells Over 7,600 Shares Under Pre-Arranged Trading Plan
Insider Transaction Report
Atlassian Corp's Co-Founder and CEO, Michael Cannon-Brookes, reported the sale of 7,665 shares of Class A Common Stock on July 14, 2025, executed under a pre-existing Rule 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, Co-Founder, CEO, Director, and 10% Owner of Atlassian Corp (TEAM), sold a total of 7,665 shares of Class A Common Stock on July 14, 2025.
- The sales were executed at weighted-average prices ranging from $185.985 to $193.1832 per share.
- These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
- Following these transactions, Mr. Cannon-Brookes beneficially owns 421,575 shares of Class A Common Stock, held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
Sentiment
Score: 4
Explanation: While the sales were pre-planned under a 10b5-1 plan, which mitigates the negative signal, any insider selling by a key executive and significant owner can be perceived as a slight negative, as it reduces their direct stake in the company's future performance.
Positives
- The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a systematic approach to share disposition rather than a reaction to new, negative information.
Negatives
- An insider, who is also a co-founder, CEO, and 10% owner, sold a significant number of shares (7,665 shares).
Future Outlook
Not applicable; this document reports past transactions.
Industry Context
This Form 4 reports an individual insider transaction and does not provide information related to broader industry trends or competitors.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Compliance Disclosure | The transactions were conducted under a Rule 10b5-1 trading plan, which is a pre-arranged plan designed to allow insiders to sell shares without being accused of insider trading, demonstrating adherence to SEC regulations. | 2025-02-20 | Enhances transparency and compliance regarding insider stock transactions, reducing potential for accusations of trading on material non-public information. |
Related Party Transactions
- Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating a related party holds the beneficial ownership.
Stakeholder Impact
- Shareholders: Insider selling, even if pre-planned, can sometimes be interpreted as a reduction in direct ownership by a key figure, potentially influencing investor sentiment.
Key Dates
| Date | Description |
|---|---|
| 2025-02-20 | Date Rule 10b5-1 trading plan was adopted by Michael Cannon-Brookes. |
| 2025-07-14 | Date of reported transactions for the sale of Class A Common Stock. |
| 2025-07-15 | Date the Form 4 was filed with the SEC. |
Keywords
Atlassian, TEAM, Michael Cannon-Brookes, insider trading, Form 4, stock sale, 10b5-1 plan, beneficial ownership, Class A Common Stock
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