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 on November 13, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO, Co-Founder, Director, and 10% Owner of Atlassian Corp (TEAM), reported sales of Class A Common Stock.
• A total of 7,665 shares were disposed of on November 13, 2025.
• The transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
• Sales occurred in multiple trades at weighted-average prices ranging from $152.2038 to $156.89 per share.
• Following these transactions, Mr. Cannon-Brookes beneficially owns 245,280 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 sales were conducted under a pre-arranged 10b5-1 trading plan, which typically indicates a planned diversification or liquidity event rather than a reaction to immediate company performance or outlook. This makes the sentiment neutral as it's a scheduled event.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled liquidity or diversification event rather than a reaction to immediate company performance.

Negatives

• Insider selling, even under a 10b5-1 plan, reduces the direct beneficial ownership of a key executive and significant shareholder.

Risks

• No specific risks are mentioned in this Form 4 filing beyond the general implications of insider selling.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing reports a routine insider stock transaction and does not provide information directly related to broader industry trends or competitive landscape.

Related Party Transactions

• The shares beneficially owned by Michael Cannon-Brookes are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Stakeholder Impact

• Shareholders: A minor reduction in the beneficial ownership of a key insider, though mitigated by the pre-arranged nature of the 10b5-1 plan.

Key Dates

Recommendation

The insider sales were executed under a pre-established 10b5-1 trading plan, indicating a planned liquidity or diversification event rather than a change in the insider's view of the company's immediate prospects. Such routine transactions generally do not alter the fundamental investment thesis for Atlassian, thus a 'hold' recommendation is appropriate.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Form 4, insider trading, stock sale, 10b5-1 plan, beneficial ownership