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

Atlassian Co-Founder and CEO Michael Cannon-Brookes reported the sale of 7,665 shares of Class A Common Stock totaling approximately $1.1 million under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's Co-Founder, CEO, Director, and 10% Owner, reported the sale of Class A Common Stock.
• A total of 7,665 shares were sold across four separate transactions on November 18, 2025.
• The sales were executed at weighted-average prices ranging from $145.9971 to $148.8567 per share.
• The total value of shares sold is approximately $1,129,000.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Cannon-Brookes indirectly beneficially owns 222,285 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While it's an insider sale, which can sometimes be viewed negatively, the fact that it's executed under a pre-arranged 10b5-1 plan adopted well in advance (February 20, 2025) indicates a planned diversification or liquidity event rather than a reaction to adverse company news. This mitigates any negative interpretation.

Positives

• The transactions were executed under a pre-arranged Rule 10b5-1 trading plan, indicating a planned sale rather than a reaction to recent events or material non-public information.

Negatives

• An insider sale, even if pre-planned, can sometimes be perceived as a lack of confidence by some investors, though this is largely mitigated by the 10b5-1 plan.

Future Outlook

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

Management Comments

• This filing does not contain direct quotes or paraphrased statements from company management, as it is a transactional report.

Industry Context

This insider transaction is a routine disclosure for public company executives and does not inherently reflect broader industry trends. Sales under 10b5-1 plans are common for executives to manage personal finances and diversify holdings without concerns of trading on material non-public information.

Comparison to Industry Standards

• This filing is a standard Form 4 disclosure for an insider stock transaction.
• The use of a Rule 10b5-1 trading plan aligns with best practices for corporate governance, providing a defense against insider trading allegations by pre-scheduling trades.

Related Party Transactions

• Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating indirect beneficial ownership through a related entity. The reported transactions are sales by the reporting person, not directly by the trust.

Stakeholder Impact

• The impact on shareholders is minimal. Routine insider sales under 10b5-1 plans are common and generally do not signal significant changes in company prospects.
• Employees, customers, suppliers, and creditors are unlikely to be directly impacted by this specific transaction.

Next Steps

• This filing does not mention any specific future actions, events, or milestones for the company or the reporting person beyond the reported transactions.

Key Dates

Recommendation

This Form 4 reports a routine insider sale by Michael Cannon-Brookes under a pre-established 10b5-1 trading plan. Such planned sales are common for executives for personal financial management and diversification and do not typically indicate a change in the company's fundamental outlook or warrant a shift in investment recommendation. Investors should continue to evaluate Atlassian based on its operational performance and strategic initiatives.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, insider trading, Form 4, stock sale, 10b5-1 plan, executive compensation, beneficial ownership