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

Atlassian Co-Founder and CEO Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock for approximately $1.45 million on July 16, 2025, as part of a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-Founder, CEO, Director, and 10% Owner of Atlassian Corp (TEAM), disposed of a total of 7,665 shares of Class A Common Stock on July 16, 2025.
• The sales were executed in multiple trades at weighted-average prices ranging from $187.1344 to $190.8379 per share.
• The total value of the shares sold is approximately $1,451,708.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
• Following these transactions, Mr. Cannon-Brookes beneficially owns 406,245 shares of Class A Common Stock indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While an insider sale can be perceived negatively, the fact that it was conducted under a pre-arranged Rule 10b5-1 plan mitigates concerns that it's based on negative undisclosed information. It's a routine liquidity or diversification event for an executive.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned liquidity event rather than a reaction to negative company news.

Negatives

• An insider sale, even under a 10b5-1 plan, reduces the insider's direct stake in the company, which can sometimes be perceived as a slight reduction in alignment with shareholder interests, though this is mitigated by the pre-planned nature.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating an indirect beneficial ownership structure related to the reporting person.

Stakeholder Impact

• Shareholders: The sale of shares by a co-founder and CEO could be viewed as a minor reduction in direct alignment, but the pre-planned nature under Rule 10b5-1 lessens any negative interpretation.
• Employees, Customers, Suppliers, Creditors: No direct impact from this specific transaction.

Key Dates

Recommendation

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, SEC Filing, 10b5-1 Plan, Stock Transaction, Corporate Governance, Executive Compensation