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, reported the sale of 7,665 shares of Class A Common Stock on June 16, 2025, executed 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 7,665 shares of Class A Common Stock.
• The transactions occurred on June 16, 2025, and were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
• The sales were conducted in multiple trades at weighted-average prices ranging from $198.9229 to $202.1076 per share.
• Specifically, 2,536 shares were sold at a weighted-average price of $201.1097, 422 shares at $198.9229, 4,007 shares at $200.3417, and 700 shares at $202.1076.
• Following these transactions, Mr. Cannon-Brookes' indirect beneficial ownership of Class A Common Stock stands at 68,985 shares.
• The shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can be perceived negatively, the fact that these sales were pre-planned under a Rule 10b5-1 plan mitigates any immediate concerns about management's confidence in the company's future performance. Such plans are common for executives for personal financial planning and diversification.

Positives

• The sales were conducted under a pre-established Rule 10b5-1 trading plan, indicating that they were scheduled in advance and not a reaction to recent non-public information.

Negatives

• The transactions represent a reduction in the direct and indirect beneficial ownership of Class A Common Stock by a key insider, Michael Cannon-Brookes.

Risks

• While the sales were pre-planned, a reduction in insider ownership could be perceived negatively by some investors, potentially leading to questions about management's long-term commitment or confidence, although this is mitigated by the 10b5-1 plan.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This Form 4 filing, detailing insider stock sales, does not provide specific information related to broader industry trends or competitors. It is a routine disclosure of an executive's personal stock transactions.

Related Party Transactions

• The shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, which is a related party to the reporting person.

Stakeholder Impact

• Shareholders: May view the reduction in insider ownership with slight concern, though the pre-planned nature of the sales under a Rule 10b5-1 plan generally lessens the negative interpretation compared to unscheduled open market sales.

Key Dates

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Form 4, Insider Trading, Stock Sale, Beneficial Ownership, 10b5-1 Plan