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

Atlassian Co-Founder and Co-CEO Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock for approximately $1.28 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), disposed of 7,665 shares of Class A Common Stock.
• The sales occurred on September 4, 2025, through multiple transactions at weighted-average prices ranging from $166.2947 to $169.9002 per share.
• The total value of the shares sold amounts to approximately $1,285,140.96.
• These transactions were executed 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 between 137,970 and 142,780 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 sentiment is neutral. While it's an insider sale, the execution under a pre-arranged 10b5-1 plan makes it a routine, non-discretionary event, which typically does not carry a strong positive or negative signal for the company's prospects.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled, non-discretionary transaction rather than a reaction to recent company performance or news.

Negatives

• Insider selling, even under a 10b5-1 plan, represents a reduction in direct ownership by a key executive and significant shareholder.

Risks

• No specific new risks are introduced by this Form 4 filing beyond the general perception of insider selling.

Future Outlook

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

Industry Context

Insider sales under Rule 10b5-1 plans are a common practice among executives to diversify personal holdings and manage liquidity in a pre-scheduled, compliant manner, mitigating concerns about market timing.

Related Party Transactions

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

Stakeholder Impact

• Shareholders: A routine insider sale under a 10b5-1 plan is generally not expected to have a significant impact on shareholder confidence or the company's operational outlook.
• Management: The transaction reflects a personal financial decision by a key executive, consistent with pre-planned diversification.

Key Dates

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, 10b5-1 Plan, Class A Common Stock, Director, CEO, 10% Owner