Form 4: Atlassian Co-Founder Sells 7,665 Shares Under 10b5-1 Plan

Atlassian CEO and Co-Founder Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock on September 30, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's CEO, Co-Founder, Director, and 10% Owner, reported a series of stock sales.
• On September 30, 2025, a total of 7,665 shares of Class A Common Stock were disposed of.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• The shares were sold at weighted-average prices ranging from $158.2473 to $164.3467 per share.
• The sales reduced Mr. Cannon-Brookes' indirect beneficial ownership, held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, from an initial 7,665 shares to 0.00 shares.

Sentiment

Score: 4

Explanation: The filing reports significant insider selling by a key executive and 10% owner, totaling 7,665 shares, which can be perceived negatively by the market. Although executed under a pre-arranged Rule 10b5-1 plan, mitigating concerns about opportunistic selling, the complete liquidation of indirect holdings by a prominent insider does not provide a positive signal for the stock.

Negatives

• Significant insider selling by a key executive and 10% owner, totaling 7,665 shares, could be perceived negatively by the market.

Risks

• While executed under a pre-arranged 10b5-1 plan, the substantial liquidation of indirect holdings by a prominent insider might raise questions about future personal investment in the company or diversification strategies.

Industry Context

This insider transaction report does not provide specific industry context, as it focuses solely on personal stock dispositions by an executive.

Related Party Transactions

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

Stakeholder Impact

• Shareholders might interpret the significant insider selling by a key executive as a potential negative signal, despite the pre-arranged nature of the transactions.

Key Dates

Recommendation

The sale of 7,665 shares by CEO and Co-Founder Michael Cannon-Brookes, while substantial, was conducted under a pre-arranged Rule 10b5-1 trading plan. This indicates the decision to sell was made in advance and not based on recent material non-public information, which typically lessens the negative impact of insider selling. However, the complete liquidation of his indirect holdings through the trust could be interpreted as a move towards diversification or a reduced personal stake, which is not a strong positive catalyst. Without additional company-specific news or broader market context, a 'hold' recommendation is prudent, advising investors to maintain their current positions and monitor future developments.

Keywords

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