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

Atlassian CEO and Co-Founder Michael Cannon-Brookes sold 7,675 shares of Class A Common Stock for approximately $1.28 million under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's CEO, Co-Founder, Director, and 10% owner, reported the sale of Class A Common Stock.
• A total of 7,675 shares were disposed of on November 4, 2025.
• The sales were executed at weighted-average prices ranging from approximately $162.79 to $173.93 per share.
• The transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Cannon-Brookes indirectly beneficially owns 298,935 shares through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: Neutral. While insider selling can be viewed with some caution, the presence of a 10b5-1 plan mitigates concerns as it indicates pre-planned diversification rather than a reaction to new, adverse information. The amount sold is also relatively small compared to the insider's total holdings and the company's market capitalization.

Negatives

• A significant insider, the CEO and Co-Founder, sold a notable number of shares (7,675 shares) totaling approximately $1.28 million.
• While executed under a 10b5-1 plan, consistent insider selling can sometimes be perceived as a move to diversify personal wealth, which some investors might view with caution.

Stakeholder Impact

• Shareholders may interpret the insider sale as a slight negative signal, though the 10b5-1 plan context reduces immediate concern regarding company performance.

Key Dates

Recommendation

The insider sale by Michael Cannon-Brookes, while notable, was conducted under a pre-established 10b5-1 trading plan. This suggests a planned diversification of personal assets rather than a reaction to new, adverse company-specific information. The amount sold is also a small fraction of his overall holdings. Therefore, this filing alone does not warrant a change in investment thesis, and a 'hold' recommendation remains appropriate, pending further fundamental analysis of Atlassian's business performance and market conditions.

Keywords

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