Form 4: Atlassian Co-Founder Sells $1.12M in Shares

Atlassian Co-Founder and CEO Michael Cannon-Brookes reported the sale of 7,665 shares of Class A Common Stock totaling approximately $1.12 million under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, and Co-Founder/CEO of Atlassian Corp, reported sales of Class A Common Stock.
• A total of 7,665 shares were disposed of on November 24, 2025, through three separate transactions.
• The sales were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• The weighted-average prices for the transactions ranged from $145.9533 to $147.7615 per share.
• The total value of the shares sold amounts to approximately $1,123,722.74.
• Following these transactions, Michael Cannon-Brookes beneficially owns 191,625 shares indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sale of shares by a key insider, while reducing direct ownership, was conducted under a pre-arranged 10b5-1 trading plan, suggesting planned diversification rather than a reaction to new negative information. This makes the sentiment neutral.

Positives

• The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating planned diversification or liquidity management rather than a reaction to new negative information.

Negatives

• A key insider, Michael Cannon-Brookes, reduced his beneficial ownership in the company by 7,665 shares.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This insider transaction report reflects a routine disclosure of share sales by a key executive and co-founder, which is a common occurrence in the technology industry for diversification or liquidity purposes, especially when executed under a pre-planned trading arrangement.

Comparison to Industry Standards

• The use of a Rule 10b5-1 trading plan for insider stock sales is a standard practice among executives in publicly traded companies, particularly in the tech sector, to manage personal finances while adhering to insider trading regulations.
• The volume of shares sold (7,665 shares) represents a small fraction of the total outstanding shares and the insider's overall beneficial ownership, which is typical for routine diversification sales rather than a significant divestment.

Corporate Governance

Related Party Transactions

• Shares sold were held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, a related entity to the reporting person.

Stakeholder Impact

• Shareholders: Minor reduction in insider ownership, but the pre-planned nature of the sale mitigates concerns about its implications for company performance.
• Employees, Customers, Suppliers, Creditors: No direct impact from this specific insider transaction report.

Key Dates

Recommendation

The reported insider sales were conducted under a pre-arranged 10b5-1 trading plan, indicating a planned diversification or liquidity event rather than a reaction to new material information. Such routine transactions by insiders typically do not warrant a change in investment thesis for long-term investors.

Keywords

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