Form 4: Atlassian Co-Founder Sells $1.27M in Stock

Atlassian Co-Founder and Co-CEO Michael Cannon-Brookes sold approximately $1.27 million worth of Class A Common Stock under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, and Co-CEO/Co-Founder of Atlassian Corp (TEAM), reported sales of Class A Common Stock.
• The transactions involved the direct disposal of a total of 7,665 shares of Class A Common Stock.
• The sales occurred on September 24, 2025, at weighted-average prices ranging from $164.1496 to $169.28 per share.
• The total value of the shares sold is approximately $1,265,371.32.
• These sales were executed pursuant to a Rule 10b5-1 trading plan, which was adopted by the Reporting Person on February 20, 2025.
• Following these transactions, 30,660 shares of Class A Common Stock are beneficially owned indirectly by 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 their direct stake, was conducted under a pre-arranged 10b5-1 plan. This typically signals a planned diversification or liquidity event rather than a reaction to negative company-specific news, making the sentiment neutral.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned, non-discretionary divestment rather than a reaction to new, undisclosed information.

Negatives

• Michael Cannon-Brookes, a key insider, reduced his direct beneficial ownership of Atlassian Class A Common Stock by 7,665 shares.

Stakeholder Impact

• Shareholders: The reduction in direct insider ownership, while minor in the context of the company's overall market capitalization, is generally viewed neutrally given the pre-arranged nature of the 10b5-1 plan.

Next Steps

• The Reporting Person undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.

Key Dates

Keywords

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