Form 4: Atlassian Co-Founder Sells $1.1M in Shares

Atlassian Corp co-founder and CEO Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock for approximately $1.13 million on October 13, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian Corp's Director, 10% Owner, CEO, and Co-Founder, reported sales of Class A Common Stock.
• The transactions occurred on October 13, 2025.
• A total of 7,665 shares were sold across four separate transactions.
• The sales were executed at weighted-average prices ranging from $145.71 to $148.852 per share.
• The total value of shares sold is approximately $1,133,355.94.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Michael Cannon-Brookes beneficially owns 421,575 shares indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The transaction is a routine insider sale executed under a pre-arranged 10b5-1 trading plan, which typically indicates personal financial planning rather than a reaction to specific company performance or market conditions.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned and transparent divestment strategy rather than an immediate reaction to market conditions.

Negatives

• The sale of shares by a key insider, even under a 10b5-1 plan, reduces their direct ownership stake in the company.

Risks

• While executed under a 10b5-1 plan, significant insider selling could be perceived by some investors as a signal of reduced confidence in the company's near-term prospects, potentially leading to negative sentiment.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• The remaining beneficial ownership of 421,575 shares is held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating a related party holding structure for the insider's remaining stake.

Stakeholder Impact

• Shareholders: Minor impact, as the sale is pre-planned and relatively small compared to the total shares outstanding. Could be viewed as routine diversification.
• Employees, Customers, Suppliers, Creditors: No direct impact from this filing.

Key Dates

Keywords

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