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, reported the sale of 7,665 shares of Class A Common Stock on June 12, 2025, executed under a Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-Founder, CEO, Director, and 10% owner of Atlassian Corp (TEAM), reported the sale of 7,665 shares of Class A Common Stock.
• The sales occurred on June 12, 2025, through multiple transactions.
• The shares were sold at weighted-average prices ranging from $197.5071 to $201.3459 per share.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
• Following these transactions, Mr. Cannon-Brookes indirectly beneficially owns 84,315 shares of Class A Common Stock, held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

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

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a systematic and pre-planned disposition of shares rather than a reaction to new, undisclosed information.

Negatives

• The disposition of shares by a key insider, including the CEO and a 10% owner, could be perceived negatively by some investors, even if pre-planned.

Risks

• While the sales are pre-planned, significant insider selling, especially by a co-founder and CEO, can sometimes lead to negative market sentiment or speculation about the company's future prospects.

Future Outlook

NA

Industry Context

This Form 4 filing reports a routine insider transaction for Atlassian Corp. Such filings are common across publicly traded companies as executives and large shareholders manage their equity holdings, often through pre-scheduled trading plans like Rule 10b5-1 plans, which are designed to avoid accusations of trading on material non-public information.

Related Party Transactions

• Michael Cannon-Brookes, as a Director, 10% Owner, and Officer (CEO, Co-Founder) of Atlassian Corp, is considered a related party. The reported sales of Class A Common Stock are transactions involving a related party.

Stakeholder Impact

• Shareholders: The sales by a key insider might lead to minor shifts in market sentiment, though the pre-planned nature of the transactions under a 10b5-1 plan typically reduces significant impact.
• Employees, Customers, Suppliers, Creditors: No direct or material impact on these stakeholders is indicated by this filing.

Key Dates

Keywords

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