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

Atlassian CEO and Co-Founder Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock for approximately $1.48 million through a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO, Co-Founder, Director, and 10% Owner of Atlassian Corp (TEAM), reported sales of Class A Common Stock.
• A total of 7,665 shares were sold on June 20, 2025, across multiple transactions.
• The sales were executed at weighted-average prices ranging from $189.6932 to $198.1776 per share.
• The total value of shares sold is approximately $1,484,077.5.
• 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 indirectly beneficially owns 45,990 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: Neutral. The sale is a routine insider transaction conducted under a pre-arranged 10b5-1 plan, which minimizes negative implications typically associated with insider selling. It does not convey new positive or negative information about the company's operations or prospects.

Positives

• The sales were conducted under a Rule 10b5-1 trading plan, indicating a pre-scheduled and non-discretionary transaction, which reduces concerns about insider trading based on material non-public information.

Negatives

• Insider selling, even under a 10b5-1 plan, can sometimes be perceived as a lack of confidence in the company's near-term stock performance, although this is mitigated by the pre-arranged nature.

Future Outlook

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

Industry Context

This Form 4 filing reports a routine insider stock sale by a key executive at Atlassian, a leading provider of team collaboration and productivity software. Such sales are common for executives managing personal finances and are often pre-scheduled, as indicated by the Rule 10b5-1 plan, which helps to mitigate concerns about market timing. The transaction itself does not provide specific insights into broader industry trends or competitive dynamics.

Related Party Transactions

• Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating a related party structure for beneficial ownership.

Stakeholder Impact

• Shareholders: The sale of shares by a co-founder and CEO could be perceived neutrally or slightly negatively, though the 10b5-1 plan mitigates concerns about market timing. The total number of shares sold (7,665) is a small fraction of the company's outstanding shares and the insider's total holdings, so the direct impact on share price is likely minimal.

Key Dates

Recommendation

Keywords

Atlassian, TEAM, SEC Form 4, Insider Trading, Stock Sale, Michael Cannon-Brookes, 10b5-1 Plan, Corporate Governance, Equity Securities