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 Class A Common Stock shares on June 17, 2025, through a pre-established Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, and Co-Founder/CEO of Atlassian Corp (TEAM), reported the disposition of Class A Common Stock.
• A total of 7,665 shares of Class A Common Stock were sold on June 17, 2025, across four separate transactions.
• The sales were executed at weighted-average prices ranging from $198.5904 to $201.5827 per share.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan, which was adopted by the Reporting Person on February 20, 2025.
• Following these reported transactions, Michael Cannon-Brookes' indirect beneficial ownership of Class A Common Stock, held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, stands at 61,320 shares.

Sentiment

Score: 5

Explanation: The document reports routine insider stock sales conducted under a pre-arranged Rule 10b5-1 trading plan, which typically indicates a neutral sentiment as these are not reactive sales based on new information.

Positives

• The stock sales were conducted under a Rule 10b5-1 trading plan, indicating that they were pre-scheduled and not a reaction to new, negative material information about the company.

Negatives

• Insider selling, even when pre-planned, can sometimes be perceived by the market as a lack of confidence, although the impact is mitigated by the existence of a 10b5-1 plan.

Risks

• No specific risks are detailed in this Form 4 filing beyond the general market perception associated with insider stock sales.

Future Outlook

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

Industry Context

This Form 4 filing is a routine disclosure of insider stock transactions and does not provide information related to broader industry trends or competitor analysis.

Related Party Transactions

• The shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating a related party holding structure for the beneficial ownership.

Stakeholder Impact

• Shareholders may note the insider selling, but the pre-arranged nature of the sales via a Rule 10b5-1 plan generally mitigates concerns about management's confidence in the company's future prospects.

Key Dates

Recommendation

Keywords

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