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

Atlassian Corp's Co-Founder, CEO, and 10% owner Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock on July 17, 2025, through a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-Founder, CEO, and 10% Owner of Atlassian Corp (TEAM), reported the sale of 7,665 shares of Class A Common Stock.
• The transactions occurred on July 17, 2025.
• The sales were executed at weighted-average prices ranging from $190.8217 to $194.656 per share.
• These sales 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' indirect beneficial ownership stands at 398,580 shares, held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 4

Explanation: The sale of shares by a key insider, even if planned under a 10b5-1, generally carries a slightly negative sentiment as it reduces the insider's direct stake in the company. However, the pre-arranged nature mitigates strong negative implications.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating the transactions were scheduled in advance and not based on immediate, non-public information.

Negatives

• A significant insider, Michael Cannon-Brookes, reduced his beneficial ownership by selling 7,665 shares of Class A Common Stock.

Risks

• No specific risks beyond the general implications of insider share sales are mentioned in this Form 4 filing.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing.

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

This Form 4 filing reports an insider transaction specific to Atlassian Corp and does not provide broader industry trend analysis. Insider sales, particularly by founders and executives, are common across industries for diversification or liquidity purposes, especially when conducted under pre-arranged 10b5-1 plans.

Comparison to Industry Standards

• This document is an insider trading report (Form 4) and does not contain information suitable for comparison to industry-specific operational or financial benchmarks. The transaction itself, being a sale by a key executive under a 10b5-1 plan, aligns with common practices for managing executive compensation and diversification, similar to how executives at companies like Microsoft (MSFT) or Salesforce (CRM) might conduct planned share sales.

Corporate Governance

Related Party Transactions

• The sale of Class A Common Stock by Michael Cannon-Brookes, a Director, 10% Owner, and Officer of Atlassian Corp, constitutes a related party transaction.

Stakeholder Impact

• Shareholders: The sale by a key insider could be interpreted by some shareholders as a signal, potentially influencing investor sentiment, though the 10b5-1 plan mitigates this.

Next Steps

• No specific future actions, events, or milestones are mentioned in this Form 4 filing beyond the completion of the reported transactions.

Key Dates

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, insider trading, Form 4, share sale, 10b5-1 plan, beneficial ownership, Class A Common Stock