Form 4: Atlassian Co-Founder Sells $1.3M in Shares Under 10b5-1 Plan

Atlassian Co-Founder and Co-CEO Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock for approximately $1.3 million under a pre-arranged trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, and Co-Founder/CEO of Atlassian Corp (TEAM), reported the sale of Class A Common Stock.
• A total of 7,665 shares were sold on August 25, 2025, through three separate transactions.
• The first transaction involved 2,610 shares at a weighted-average price of $169.8664, ranging from $169.58 to $170.55.
• The second transaction involved 4,805 shares at a weighted-average price of $169.0663, ranging from $168.58 to $169.57.
• The third transaction involved 250 shares at a weighted-average price of $170.846, ranging from $170.59 to $171.04.
• The total value of the shares sold is approximately $1,298,455.44.
• These transactions 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 191,625 shares of Class A Common Stock, held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While it involves insider selling, the transaction was pre-planned under a 10b5-1 plan, which mitigates concerns about its implications for the company's immediate future performance. The amount sold is also relatively small compared to the co-founder's overall holdings.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned and systematic approach to share disposition rather than a reaction to recent events.

Negatives

• Insider selling, even when planned, can sometimes be perceived negatively by the market, although the amount sold represents a small fraction of the co-founder's total holdings.

Risks

• Potential for negative market sentiment if investors misinterpret the planned sale as a lack of confidence, despite the 10b5-1 plan.

Future Outlook

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

Industry Context

Rule 10b5-1 trading plans are a common practice among corporate executives to sell company stock systematically over time, helping to avoid accusations of insider trading by pre-scheduling transactions.

Related Party Transactions

• Shares are indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, which is a related entity to the reporting person.

Stakeholder Impact

• Shareholders may observe a minor increase in the float of Class A Common Stock, but the impact is likely minimal given the relatively small volume of shares sold.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

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