Form 4: Atlassian Co-Founder Michael Cannon-Brookes Sells Over 8,000 Shares Under Pre-Arranged Trading Plan

Atlassian Corp's Co-Founder and CEO, Michael Cannon-Brookes, reported the sale of 8,048 shares of Class A Common Stock on May 29, 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 8,048 shares of Class A Common Stock.
• The sales occurred on May 29, 2025, through multiple transactions at weighted-average prices ranging from $203.80 to $214.16 per share.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan, which was adopted by Mr. Cannon-Brookes on February 8, 2024.
• Following these reported transactions, Mr. Cannon-Brookes' indirect beneficial ownership through the Cannon-Brookes Head Trust stands at 47,688 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can sometimes be perceived negatively, the fact that these sales were conducted under a pre-arranged Rule 10b5-1 trading plan mitigates concerns, as it indicates a planned liquidity event rather than a reaction to new, negative company information.

Positives

• The sales were conducted under a Rule 10b5-1 trading plan, indicating pre-scheduled transactions rather than reactive selling, which can reduce concerns about insider sentiment.

Negatives

• Insider selling, even if pre-planned, reduces the direct ownership stake of a key executive and significant shareholder.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: May observe a reduction in direct insider ownership, though the 10b5-1 plan context typically lessens negative interpretations.

Key Dates

Keywords

Atlassian, TEAM, SEC Form 4, Insider Trading, Stock Sale, Michael Cannon-Brookes, Rule 10b5-1, Executive Compensation, Shareholder Ownership