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

Atlassian Co-Founder and Co-CEO Michael Cannon-Brookes sold a total of 7,665 shares of Class A Common Stock for approximately $1.34 million under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-Founder, Co-CEO, Director, and 10% Owner of Atlassian Corp (TEAM), reported sales of Class A Common Stock.
• A total of 7,665 shares were sold across three separate transactions on September 15, 2025.
• The sales were executed at weighted-average prices ranging from $174.0083 to $175.9427 per share.
• The total value of the shares sold amounts to approximately $1,338,146.
• These transactions were conducted 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 84,315 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine insider transaction executed under a pre-arranged 10b5-1 plan, which is a common practice for executives to manage personal liquidity and diversification. It does not indicate a change in company fundamentals or management's outlook.

Future Outlook

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

Industry Context

This insider transaction is a routine disclosure for a publicly traded company's executive and does not inherently reflect broader industry trends or competitive positioning. It is a personal financial management event for the insider.

Related Party Transactions

• Shares are indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating an indirect beneficial ownership structure.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, pre-planned insider sale and does not suggest a change in company fundamentals or management's confidence.
• Employees, Customers, Suppliers, Creditors: No direct impact from this insider transaction.

Key Dates

Recommendation

The reported transactions are routine insider sales executed under a Rule 10b5-1 trading plan. Such pre-planned sales are common for executives to manage personal finances and do not typically signal a change in the company's fundamental outlook or warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate, maintaining existing positions based on the company's broader performance and market conditions rather than this specific insider activity.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, 10b5-1 Plan, Stock Transaction, Class A Common Stock