Form 4: Atlassian Co-Founder Michael Cannon-Brookes Sells 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 June 3, 2025, through a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-Founder, CEO, Director, and 10% Owner of Atlassian Corp (TEAM), reported the sale of 7,948 shares of Class A Common Stock.
• The transactions occurred on June 3, 2025, with weighted-average prices ranging from $204.941 to $210.8552 per share.
• These sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 8, 2024.
• Following these transactions, Mr. Cannon-Brookes beneficially owns 23,844 shares indirectly through the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The document reports routine insider stock sales conducted under a pre-arranged 10b5-1 trading plan, which is generally considered neutral as it indicates scheduled diversification or liquidity rather than a reaction to new company information.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled disposition rather than a reaction to new, negative company-specific information.

Negatives

• The sale of shares by a key insider, such as the Co-Founder and CEO, reduces their direct ownership stake in the company.

Management Comments

• The reported transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 8, 2024.

Related Party Transactions

• Shares beneficially owned following the transactions are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating a related party holding structure for the remaining shares.

Stakeholder Impact

• Shareholders may note a slight reduction in the direct ownership stake of a key co-founder and CEO, though the sales are part of a pre-planned trading strategy.

Key Dates

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, insider trading, Form 4, stock sale, 10b5-1 plan, beneficial ownership