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

Atlassian Co-Founder and Co-CEO Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock for approximately $1.17 million under a pre-arranged trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, and Co-Founder/CEO of Atlassian Corp (TEAM), reported transactions on November 14, 2025.
• He disposed of a total of 7,665 shares of Class A Common Stock through multiple sales.
• The sales were executed at weighted-average prices ranging from $150.2043 to $154.79 per share.
• The total value of the shares sold is approximately $1,168,783.09.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Michael Cannon-Brookes beneficially owns 237,615 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 sentiment is neutral. While it involves insider selling, the transaction was pre-scheduled under a Rule 10b5-1 plan, which typically mitigates any negative implications associated with unscheduled insider disposals. It represents a routine financial planning event for the executive.

Risks

• Potential negative market perception of insider selling, although mitigated by the existence of a Rule 10b5-1 trading plan.

Future Outlook

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

Industry Context

Insider sales under Rule 10b5-1 plans are common among executives of publicly traded companies. These plans allow insiders to sell a predetermined number of shares at a predetermined time or price, providing an affirmative defense against insider trading allegations and facilitating personal financial planning.

Related Party Transactions

• Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, which is a common structure for executive shareholdings.

Stakeholder Impact

• Shareholders: The sale represents a minor dilution of the executive's direct stake, but the pre-arranged nature under a 10b5-1 plan suggests no immediate negative implications for company strategy or performance.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Recommendation

The filing details a routine insider stock sale executed under a Rule 10b5-1 trading plan. Such pre-scheduled transactions are generally not considered a strong indicator of future company performance or a significant change in management's outlook. Therefore, this specific filing alone does not warrant a change in investment recommendation, and a 'hold' stance is maintained, pending further fundamental analysis of the company's operations and financial results.

Keywords

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