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, Co-Founder, Co-CEO, Director, and 10% Owner of Atlassian Corp (TEAM), reported the sale of 7,665 shares of Class A Common Stock.
• The transactions occurred on October 9, 2025, pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• The shares were sold in three separate transactions at weighted-average prices of $150.0661 (900 shares), $148.1166 (5,315 shares), and $149.1599 (1,450 shares).
• Following these transactions, Michael Cannon-Brookes beneficially owns 436,905 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 sale of shares by a key insider, while a negative signal in isolation, was conducted under a pre-arranged 10b5-1 plan, which mitigates concerns about opportunistic trading. This makes the event largely neutral in terms of immediate sentiment impact.

Negatives

• An insider, who is also a Co-Founder and CEO, sold a total of 7,665 shares of Class A Common Stock. While pre-arranged, insider selling can sometimes be perceived negatively by the market.

Risks

• No specific risks are detailed in this Form 4 filing beyond the general market perception of insider selling.

Future Outlook

No forward-looking statements or guidance were provided in this Form 4 filing.

Industry Context

This is a routine insider transaction report and does not contain information related to broader industry trends or competitors.

Stakeholder Impact

• Shareholders: The sale represents a minor reduction in the beneficial ownership of a key insider, which is generally expected under a 10b5-1 plan and unlikely to have a significant impact on shareholder sentiment or company strategy.

Key Dates

Recommendation

The reported transactions are routine insider sales executed under a pre-arranged 10b5-1 trading plan. Such sales are typically for personal financial planning or diversification and do not usually indicate a change in the company's fundamental outlook or warrant a shift in investment thesis. Therefore, a 'hold' recommendation is appropriate as this filing does not present new information that would fundamentally alter the investment case for Atlassian.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, insider trading, Form 4, stock sale, 10b5-1 plan, CEO, Director, 10% owner