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

Atlassian Co-Founder and CEO Michael Cannon-Brookes sold a total of 7,665 Class A Common Stock shares on October 3, 2025, 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 the sale of Class A Common Stock.
• The transactions occurred on October 3, 2025, and were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• A total of 7,665 shares were disposed of across three separate transactions.
• The shares were sold at weighted-average prices of $151.0315 (5,421 shares), $150.1571 (1,819 shares), and $151.6365 (425 shares).
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 467,565 Class A Common Stock shares, held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sale of shares by a co-founder and CEO, while a reduction in direct ownership, was executed under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled transaction rather than a reaction to new material non-public information, thus maintaining a neutral sentiment.

Positives

• The transaction was executed under a Rule 10b5-1 trading plan, adopted well in advance (February 20, 2025), which indicates a pre-scheduled sale for personal financial planning rather than a reaction to recent company performance or news.

Negatives

• Michael Cannon-Brookes, a key executive and significant owner, reduced his direct beneficial ownership in Atlassian Corp by 7,665 shares.

Future Outlook

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

Industry Context

This filing is a routine insider transaction report and does not provide specific insights into broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders may note the reduction in direct beneficial ownership by a key executive, though the pre-arranged nature of the 10b5-1 plan mitigates concerns about the timing or motivation of the sale.

Key Dates

Recommendation

The filing details a pre-scheduled insider stock sale under a Rule 10b5-1 plan, which is a routine disclosure and does not inherently signal a change in the company's fundamental prospects or warrant a shift in investment strategy. Therefore, a 'hold' recommendation is appropriate as this transaction alone does not provide new information to alter an existing investment thesis.

Keywords

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