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 for approximately $1.15 million under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's CEO, Co-Founder, Director, and 10% Owner, sold a total of 7,665 shares of Class A Common Stock.
• The sales occurred on October 16, 2025, at weighted-average prices ranging from $148.9357 to $155.81 per share.
• The estimated total value of the shares sold is approximately $1,150,000.
• These transactions were executed under a Rule 10b5-1 trading plan established on February 20, 2025.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 398,580 shares of Class A Common Stock through the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing reports routine insider selling under a pre-established 10b5-1 trading plan, which is a common practice and does not inherently reflect positively or negatively on the company's operational performance or future prospects.

Positives

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

Negatives

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

Future Outlook

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

Management Comments

• The transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2025.

Industry Context

Insider selling, particularly by a CEO and co-founder, is a common occurrence in the technology industry, often for diversification, liquidity, or tax planning purposes. The use of a Rule 10b5-1 plan is a standard practice to execute such sales in a pre-scheduled manner, mitigating concerns about trading on material non-public information.

Corporate Governance

Related Party Transactions

• Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, which is a related party to Michael Cannon-Brookes.

Stakeholder Impact

• Shareholders: May view the insider selling as a signal, though the 10b5-1 plan mitigates concerns about opportunistic selling. It reduces the direct equity alignment of a key executive.

Key Dates

Recommendation

While insider selling can sometimes be a negative signal, these transactions were executed under a pre-arranged 10b5-1 plan, which suggests a planned divestment for personal financial management rather than a reaction to adverse company-specific news. Given the routine nature of such plans for high-net-worth individuals, this filing alone does not provide sufficient new information to warrant a change in investment recommendation. Investors should 'hold' and monitor broader company performance and market trends.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Selling, Form 4, SEC Filing, 10b5-1 Plan, Stock Sale, CEO, Co-Founder