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

Atlassian Co-Founder and Co-CEO Michael Cannon-Brookes reported the sale of 7,665 shares of Class A Common Stock through a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, CEO, and Co-Founder of Atlassian Corp (TEAM), reported sales of Class A Common Stock.
• A total of 7,665 shares were sold on September 18, 2025, across multiple transactions.
• The sales were executed at weighted-average prices ranging from $168.8816 to $174.88 per share.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
• Following these transactions, Mr. Cannon-Brookes beneficially owns 61,320 shares of Class A Common Stock indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can be viewed negatively, the fact that these sales were pre-arranged under a Rule 10b5-1 plan mitigates concerns that they are based on new, adverse material non-public information. Such plans are often used for personal financial planning, diversification, or liquidity.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned divestment strategy rather than a reaction to new, adverse information.

Negatives

• Insider selling, even under a 10b5-1 plan, can sometimes be perceived negatively by investors as it reduces management's direct equity stake in the company.

Risks

• No specific risks were mentioned in the filing beyond the general implications of insider stock sales.

Future Outlook

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

Industry Context

This filing is an individual insider transaction report and does not provide broader industry context or trends. It reflects a personal financial decision by a key executive.

Related Party Transactions

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

Stakeholder Impact

• Shareholders may note the reduction in direct equity ownership by a co-founder, though the pre-planned nature of the sales under a 10b5-1 plan typically lessens concerns about management's confidence in the company's future.

Key Dates

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Equity Transaction