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

Atlassian Corp's Co-Founder and CEO, Michael Cannon-Brookes, sold 7,665 shares of Class A Common Stock for approximately $1.516 million on June 13, 2025, as part of a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, who serves as Co-Founder, CEO, Director, and a 10% Owner of Atlassian Corp (TEAM), executed sales of Class A Common Stock.
• A total of 7,665 shares were sold on June 13, 2025, through multiple trades.
• The sales were conducted at weighted-average prices ranging from $196.5736 to $200.2184 per share.
• The estimated total value of the shares sold is approximately $1,516,386.42.
• These transactions were carried out pursuant to a Rule 10b5-1 trading plan that Mr. Cannon-Brookes adopted on February 20, 2025.
• Following these reported transactions, Mr. Cannon-Brookes' indirect beneficial ownership of Atlassian Class A Common Stock stands at 76,650 shares, held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: A score of 5 (neutral) is assigned because the insider sales, while reducing direct ownership, were conducted under a pre-arranged Rule 10b5-1 trading plan, which suggests a planned diversification or liquidity event rather than a reactive sale due to negative company prospects. Such planned sales are common for executives.

Future Outlook

The document is an SEC Form 4, which reports insider trading activity and does not contain information regarding the company's future outlook or guidance.

Industry Context

This SEC Form 4 reports an individual insider transaction and does not provide broader industry context or trends.

Related Party Transactions

• Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating indirect beneficial ownership through a related entity.

Stakeholder Impact

• Shareholders may observe the reduction in insider ownership, which could be interpreted differently depending on their investment thesis, though the 10b5-1 plan mitigates immediate negative interpretations.

Key Dates

Keywords

Atlassian, TEAM, SEC Form 4, Insider Sale, Michael Cannon-Brookes, Stock Transaction, Rule 10b5-1, Class A Common Stock, Beneficial Ownership