Form 4: Atlassian Co-Founder Sells $1.16M in Stock

Atlassian Co-Founder and Co-CEO Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock for approximately $1.16 million on October 17, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-Founder, Co-CEO, Director, and 10% Owner of Atlassian Corp (TEAM), reported a sale of Class A Common Stock.
• A total of 7,665 shares were disposed of on October 17, 2025, through three separate transactions.
• The sales were executed at weighted-average prices of $151.7619, $150.9528, and $150.0514 per share.
• The total value of the shares sold amounts to approximately $1,158,244.08.
• 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 beneficially owns 390,915 shares of Class A Common Stock indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The transaction is a pre-planned sale under a 10b5-1 plan, which typically indicates a routine liquidity event or portfolio diversification rather than a reaction to new material non-public information. It is not indicative of positive or negative company performance.

Negatives

• Insider selling, even under a 10b5-1 plan, can sometimes be perceived by the market as a lack of confidence, though this is mitigated by the pre-planned nature of the sale.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction. It solely reports an insider transaction.

Industry Context

This filing reports a routine insider stock transaction and does not provide information that directly relates to broader industry trends or competitive landscape analysis for the software or collaboration tools sector.

Related Party Transactions

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

Stakeholder Impact

• Shareholders: The sale represents a minor dilution of insider ownership, but given it's a pre-planned transaction, it is unlikely to signal a change in management's long-term view of the company.
• Employees, Customers, Suppliers, Creditors: No direct impact from this insider transaction.

Key Dates

Recommendation

The filing details a routine, pre-scheduled sale of shares by a co-founder under a 10b5-1 trading plan. Such transactions are typically for personal financial planning and do not usually reflect a change in the company's fundamentals or future prospects. Therefore, it does not provide new information that would warrant a change in investment recommendation, suggesting a 'hold' position for existing investors.

Keywords

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