Form 4: Atlassian Co-Founder Sells $1.13M in Shares

Atlassian Co-Founder and Co-CEO Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock for approximately $1.13 million through a pre-arranged trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's Co-Founder, Co-CEO, Director, and 10% Owner, reported the sale of Class A Common Stock.
• A total of 7,665 shares were sold on October 7, 2025, across five separate transactions.
• The sales were executed at weighted-average prices ranging from $146.9108 to $151.57 per share.
• The total value of the shares sold is approximately $1,134,693.77.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 452,235 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While it's an insider sale, it was conducted under a pre-arranged 10b5-1 plan, which mitigates any negative implications of an unplanned sale. The amount is also relatively small compared to the company's market capitalization and the insider's total holdings.

Negatives

• Insider sales, even if pre-planned, can sometimes be perceived negatively by investors as they reduce the insider's direct stake in the company.

Future Outlook

No forward-looking statements or guidance were provided in this filing.

Industry Context

This filing reports an individual insider transaction and does not provide information directly related to broader industry trends or competitors.

Stakeholder Impact

• Shareholders: May observe a slight decrease in insider ownership, but the pre-planned nature of the sale under Rule 10b5-1 typically minimizes concerns about management's confidence in the company.

Key Dates

Recommendation

The filing details a routine insider sale executed under a pre-arranged 10b5-1 trading plan. Such planned sales are common for executives for diversification or liquidity purposes and do not typically signal a change in the company's fundamental outlook or management's confidence. The volume of shares sold is also not significant enough to warrant a change in investment thesis based solely on this report. Therefore, a 'hold' recommendation is appropriate, maintaining current positions while monitoring broader company performance and market conditions.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, 10b5-1 Plan, Equity Transaction, Director, CEO, Co-Founder