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 November 5, 2025, through a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's CEO, Co-Founder, Director, and 10% owner, sold a total of 7,665 shares of Class A Common Stock.
• The sales occurred on November 5, 2025, at weighted-average prices ranging from $160.4764 to $168.3 per share.
• These transactions were executed under a Rule 10b5-1 trading plan that was adopted on February 20, 2025.
• Following these transactions, Cannon-Brookes indirectly beneficially owns 291,270 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 filing reports a routine insider stock sale conducted under a pre-established 10b5-1 plan, which is a common practice for executives and generally viewed as neutral in terms of company-specific news.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, which indicates a planned, non-discretionary sale rather than a reaction to new, undisclosed information, potentially mitigating concerns about insider selling.

Negatives

• Insider selling, even when pre-planned, can sometimes be perceived negatively by the market as it reduces the insider's direct equity stake in the company.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing.

Industry Context

This Form 4 filing is a routine disclosure of insider trading and does not provide broader industry context. Insider sales are common across industries, particularly for executives managing personal finances or diversifying portfolios.

Comparison to Industry Standards

• The use of a Rule 10b5-1 plan is a standard practice for corporate insiders to sell shares in a pre-arranged, non-discretionary manner, helping to mitigate accusations of trading on material non-public information. Many executives at comparable technology companies utilize such plans for personal financial planning and portfolio diversification.

Related Party Transactions

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

Stakeholder Impact

• Shareholders: The sale slightly reduces the direct equity stake of a key insider, which could be interpreted in various ways, though the 10b5-1 plan mitigates negative signaling.
• Employees, Customers, Suppliers, Creditors: No direct impact on these stakeholders is indicated by this transactional filing.

Key Dates

Recommendation

This Form 4 reports a routine, pre-scheduled insider sale under a 10b5-1 plan. Such transactions are generally not indicative of new material information about the company's performance or outlook. Therefore, it does not provide a basis for changing an investment thesis on Atlassian, warranting a 'hold' recommendation based solely on this filing.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, insider trading, Form 4, stock sale, 10b5-1 plan, beneficial ownership, Class A Common Stock, CEO, co-founder