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 January 9, 2026, as part of a pre-arranged trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's CEO, Co-Founder, Director, and 10% owner, reported the sale of 7,665 shares of Atlassian Class A Common Stock.
• The transactions occurred on January 9, 2026, at weighted-average prices ranging from $144.0245 to $150.69 per share.
• These sales were executed pursuant to a Rule 10b5-1 trading plan, which was adopted by Mr. Cannon-Brookes on February 20, 2025.
• Following these transactions, Mr. Cannon-Brookes indirectly beneficially owns 421,575 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. While it's an insider sale, it was conducted under a pre-arranged 10b5-1 plan, which mitigates the negative signal typically associated with insider selling, as it's for personal financial planning rather than a reaction to new company-specific information.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned and systematic approach to stock diversification rather than a reaction to new, negative information.

Negatives

• An insider sale, even under a 10b5-1 plan, reduces the direct equity stake of a key executive and 10% owner in the company.

Risks

• While executed under a 10b5-1 plan, significant insider selling could be perceived by some investors as a lack of confidence, potentially impacting market sentiment.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding Atlassian's business operations or financial performance. It solely reports past insider transactions.

Industry Context

This insider transaction is specific to Atlassian and its co-founder. It does not directly reflect broader industry trends, though insider selling is a common occurrence across all industries, often for personal financial planning or diversification.

Comparison to Industry Standards

• The use of a Rule 10b5-1 trading plan for insider stock sales is a standard practice among executives of publicly traded companies, including those in the software and technology sector like Atlassian. This mechanism helps insiders avoid accusations of trading on material non-public information by pre-scheduling transactions.
• Many executives at comparable tech companies, such as Microsoft (MSFT), Salesforce (CRM), and Adobe (ADBE), also utilize 10b5-1 plans for their stock sales, making this a routine and expected disclosure for a high-ranking insider.

Related Party Transactions

• The shares beneficially owned following the transactions are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating a related party holding structure.

Stakeholder Impact

• Shareholders: The sale of shares by a key executive could be viewed with slight caution, but the 10b5-1 plan context generally reassures investors that the sale is for personal diversification rather than a negative outlook on the company.
• Employees: No direct impact on employees is indicated by this filing.

Next Steps

• The reporting person may continue to execute transactions under the existing Rule 10b5-1 plan or adopt new plans in the future, which would be reported in subsequent Form 4 filings.

Key Dates

Recommendation

This Form 4 filing reports pre-scheduled insider sales under a 10b5-1 plan, which is a routine event for executives managing their personal finances. It does not provide new information about Atlassian's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate, as the filing itself does not present a strong buy or sell signal.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, 10b5-1 Plan, Stock Transaction, CEO, Co-Founder