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 24, 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), sold a total of 7,665 shares of Class A Common Stock.
• The sales occurred on June 24, 2025, at weighted-average prices ranging from $195.703 to $200.7 per share.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, the indirect beneficial ownership of Class A Common Stock by the Reporting Person, held through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, is 30,660 shares.

Sentiment

Score: 5

Explanation: Neutral. While insider selling can sometimes be viewed negatively, the presence of a 10b5-1 plan mitigates concerns that the sale is based on new, negative information. It's a routine disclosure for planned divestment.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned divestment rather than a reaction to negative company news, which can mitigate concerns about insider confidence.

Negatives

• An insider, specifically a co-founder and CEO, selling a significant number of shares could be perceived negatively by some investors, even if pre-planned, potentially leading to questions about future growth prospects or valuation.

Risks

• Potential negative market perception due to insider selling, which might be misinterpreted as a lack of confidence, despite the 10b5-1 plan.

Future Outlook

The document is an SEC Form 4 reporting insider transactions and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• The filing indicates that the transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2025.

Industry Context

This Form 4 filing is specific to an insider's stock transactions and does not provide broader industry context or trends. Insider sales under 10b5-1 plans are common practice for executives to diversify holdings and manage liquidity in a pre-scheduled manner, reducing the perception of trading on inside information.

Comparison to Industry Standards

• This document reports an insider stock transaction and does not contain information suitable for comparison to industry-specific financial or operational benchmarks.
• Insider trading activity, particularly under 10b5-1 plans, is a standard practice across publicly traded companies for executives to manage personal finances and is not indicative of company-specific performance relative to industry peers.

Stakeholder Impact

• Shareholders: May observe insider selling, which could lead to minor concerns about management confidence, though this is largely mitigated by the disclosure of a pre-arranged 10b5-1 plan.

Next Steps

• The document does not specify future actions, events, or milestones for the company, as it is solely focused on reporting insider stock transactions.

Key Dates

Keywords

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