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

Atlassian Corp (TEAM) co-founder and CEO Michael Cannon-Brookes has reported the sale of 7,615 shares of Class A Common Stock for approximately $1.58 million, executed on June 11, 2025, under a pre-established Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-Founder, CEO, Director, and 10% Owner of Atlassian Corp (TEAM), reported the sale of 7,615 shares of Class A Common Stock.
• The transactions occurred on June 11, 2025, at weighted-average prices ranging from $201.4514 to $212.55 per share.
• The total value of the shares sold is approximately $1,585,062.65.
• These sales were conducted pursuant to a Rule 10b5-1 trading plan, which was adopted by Mr. Cannon-Brookes on February 20, 2025.
• Following these transactions, Mr. Cannon-Brookes' indirect beneficial ownership of Class A Common Stock, held through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, stands at 91,980 shares.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider sales can sometimes be viewed negatively, the fact that these sales were conducted under a pre-arranged Rule 10b5-1 trading plan mitigates any immediate negative implications, as they are not indicative of new information or a sudden change in management's outlook.

Negatives

• The sale of shares by a key insider, even under a 10b5-1 plan, can sometimes be perceived negatively by investors as it reduces the insider's direct stake in the company.

Risks

• The document itself does not introduce new specific risks beyond the general market perception of insider sales, which can sometimes be interpreted as a lack of confidence, though this is mitigated by the pre-planned nature of the sales under a 10b5-1 plan.

Future Outlook

The document, an SEC Form 4, is a disclosure of insider trading activity and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This filing is a routine disclosure of insider stock transactions for Atlassian Corp. It does not provide broader industry context or trends, focusing solely on the individual's trading activity.

Corporate Governance

Related Party Transactions

• The transactions involve the sale of shares by Michael Cannon-Brookes, a co-founder, CEO, director, and 10% owner of Atlassian, making him a related party. The shares are indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Stakeholder Impact

• Shareholders: The sale represents a minor reduction in the direct ownership stake of a key executive, which is a routine disclosure for pre-planned sales and generally has a limited direct impact on other shareholders beyond informational purposes.

Key Dates

Keywords

Atlassian, TEAM, SEC Form 4, Insider Trading, Stock Sale, Michael Cannon-Brookes, 10b5-1 Plan, Class A Common Stock, Corporate Governance