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

Atlassian CEO and Co-Founder Michael Cannon-Brookes sold 7,665 Class A Common Stock shares on September 5, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, and CEO/Co-Founder of Atlassian Corp (TEAM), reported the sale of 7,665 shares of Class A Common Stock.
• The transactions occurred on September 5, 2025, and were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• The shares were sold in multiple trades at weighted-average prices ranging from $170.7112 to $174.255 per share.
• Following these transactions, Michael Cannon-Brookes beneficially owns 130,305 shares indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sale of shares by a key insider, while typically viewed negatively, was executed under a pre-arranged 10b5-1 trading plan, which mitigates the negative signal as it was not a discretionary sale based on new, non-public information. This makes the event largely neutral in terms of immediate sentiment.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating it was a scheduled transaction for personal financial planning rather than a reaction to new, negative company-specific information.

Negatives

• Insider selling, even when pre-planned, can sometimes be perceived by the market as a lack of confidence, though the 10b5-1 plan mitigates this concern.

Future Outlook

No forward-looking statements or guidance were provided in this filing, as it is a report of insider transactions.

Industry Context

Insider sales, particularly those executed under Rule 10b5-1 plans, are a common practice for executives and directors to manage personal liquidity, diversify portfolios, or for tax planning purposes without being subject to accusations of trading on material non-public information. Such planned sales are generally viewed as less impactful than discretionary, unplanned sales.

Related Party Transactions

• Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating an indirect beneficial ownership structure.

Stakeholder Impact

• Shareholders may note the insider sale, but the pre-planned nature under a 10b5-1 plan suggests minimal direct impact on company operations or strategy.
• The transaction is part of the reporting person's personal financial management and does not directly affect employees, customers, suppliers, or creditors.

Key Dates

Recommendation

The sale of shares by Michael Cannon-Brookes was conducted under a pre-established 10b5-1 trading plan, which suggests the transaction is for personal financial planning or diversification rather than a reflection of new negative information about Atlassian. Therefore, it does not fundamentally alter the investment thesis for the stock, warranting a 'hold' recommendation based solely on this filing.

Keywords

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