Form 4: Atlassian Co-Founder Sells $1.28M in Shares

Atlassian Co-Founder and CEO Michael Cannon-Brookes sold 7,665 Class A Common Stock shares for approximately $1.28 million on October 31, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's Co-Founder, CEO, Director, and 10% Owner, disposed of 7,665 shares of Class A Common Stock.
• The transactions occurred on October 31, 2025.
• The shares were sold at weighted-average prices ranging from $160.41 to $169.7105 per share.
• The total value of the shares sold is approximately $1,284,429.91.
• These sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
• Following these transactions, Mr. Cannon-Brookes indirectly beneficially owns 314,265 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 4

Explanation: While insider selling can be perceived negatively, the transaction was executed under a pre-arranged 10b5-1 plan, which suggests it was not based on new, non-public information. However, the sale by a key executive still represents a reduction in their direct equity exposure.

Negatives

• A significant insider, the Co-Founder and CEO, sold a substantial number of shares, which could be perceived negatively by investors.
• The total value of shares sold was approximately $1.28 million.

Future Outlook

NA

Industry Context

This filing reports a routine insider transaction and does not provide broader industry context. Insider sales, even under a 10b5-1 plan, are common for executives managing personal portfolios and liquidity, and do not inherently signal changes in company or industry outlook.

Related Party Transactions

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

Stakeholder Impact

• Shareholders: May view the sale by a key executive as a negative signal, although the 10b5-1 plan mitigates concerns about opportunistic selling.

Key Dates

Recommendation

The sale of shares by a key insider, even under a pre-arranged 10b5-1 plan, warrants attention. While the plan indicates the sale was not based on new material non-public information, it still represents a reduction in the executive's equity stake. Without additional context on the company's performance or future prospects, a 'hold' recommendation is appropriate, advising investors to monitor future filings and company news for further insights rather than making an immediate buy or sell decision based solely on this transaction.

Keywords

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