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

Atlassian CEO and Co-Founder Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock through a pre-arranged trading plan.

Summary

• Michael Cannon-Brookes, CEO, Co-Founder, 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 14, 2025, at weighted-average prices ranging from $148.1956 to $157.39 per share.
• These sales were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Cannon-Brookes indirectly beneficially owns 413,910 shares of Class A Common Stock through 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, it was executed under a pre-arranged 10b5-1 trading plan, which suggests a planned liquidity event rather than a reaction to new negative information. The volume of shares sold is not exceptionally large relative to the insider's overall indirect holdings.

Negatives

• Insider selling, even under a pre-arranged plan, can sometimes be perceived as a lack of confidence by some investors, though this is often mitigated by the 10b5-1 structure.

Future Outlook

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

Industry Context

This filing represents a routine insider transaction for liquidity or portfolio diversification purposes, common among executives of publicly traded technology companies. Such pre-arranged sales under Rule 10b5-1 plans are standard practice to avoid accusations of trading on material non-public information.

Related Party Transactions

• Shares are indirectly held 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 insider sale, but given it's a 10b5-1 plan, it is unlikely to significantly alter perceptions of management's commitment or the company's prospects.

Next Steps

• The Rule 10b5-1 trading plan may involve further pre-scheduled transactions in the future, though specific details are not provided in this filing.

Key Dates

Recommendation

A routine insider sale under a 10b5-1 plan, especially one that is not a significant portion of total holdings, does not typically provide a strong signal for a change in investment recommendation. It's a pre-scheduled liquidity event rather than a reflection of new fundamental information, thus a 'hold' recommendation is appropriate as it does not introduce new factors to materially change the investment thesis.

Keywords

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