Form 4: Atlassian Co-Founder Sells Over $1M in Stock

Atlassian Corp co-founder and CEO Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock for over $1 million through a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's Co-Founder, CEO, Director, and 10% Owner, sold a total of 7,665 shares of Class A Common Stock.
• The sales occurred on January 26, 2026, at weighted-average prices ranging from $133.03 to $138.4568 per share.
• The total value of the shares sold exceeds $1 million.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Cannon-Brookes indirectly beneficially owns 344,925 shares of Class A Common Stock through the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sale of shares by a key insider is generally viewed neutrally when conducted under a pre-arranged 10b5-1 plan, as it suggests a planned liquidity event rather than a reaction to negative company-specific news. Without additional context, it does not strongly indicate positive or negative sentiment.

Negatives

• Insider selling, even under a 10b5-1 plan, can sometimes be perceived negatively by the market, potentially signaling a lack of confidence, though the pre-arranged nature mitigates this concern.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may interpret insider selling as a signal, though the presence of a 10b5-1 plan often mitigates concerns about immediate negative implications.

Key Dates

Recommendation

While insider selling by a co-founder and CEO might typically raise concerns, the execution under a pre-arranged Rule 10b5-1 plan suggests a planned liquidity event rather than a reaction to adverse company developments. This makes the transaction largely neutral in terms of immediate investment implications for long-term holders. Investors should monitor future filings and company performance for more substantive signals.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, CEO, Director, 10% Owner