Form 4: Atlassian Co-Founder Michael Cannon-Brookes Sells Over 7,900 Shares Under Pre-Arranged Trading Plan

Atlassian Corp's Co-Founder and CEO, Michael Cannon-Brookes, sold 7,948 shares of Class A Common Stock on May 30, 2025, as part of 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 Class A Common Stock.
• The transactions occurred on May 30, 2025, and were executed pursuant to a Rule 10b5-1 trading plan adopted on February 8, 2024.
• A total of 7,948 shares were sold directly across six separate transactions at weighted-average prices ranging from $202.414 to $207.5841 per share.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 39,740 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 6

Explanation: The sale of shares by a key insider, while a reduction in direct ownership, was conducted under a pre-arranged 10b5-1 trading plan, which typically signals a planned liquidity event rather than a reaction to adverse company-specific news. This mitigates the negative sentiment often associated with insider selling.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled liquidity event rather than a reaction to new, adverse company information.
• The reporting person, Michael Cannon-Brookes, remains a significant indirect beneficial owner of Atlassian shares through a trust.

Negatives

• The direct sale of shares by a key insider, even if pre-planned, represents a reduction in direct ownership and can sometimes be perceived negatively by the market.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Stakeholder Impact

• Shareholders may observe a slight decrease in direct insider ownership, though the pre-planned nature of the sale lessens concerns about management's confidence in the company's future prospects.

Key Dates

Recommendation

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, CEO, Co-Founder, Director, 10% Owner