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 20, 2025, as part of a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's CEO, Co-Founder, Director, and 10% owner, disposed of 7,665 shares of Class A Common Stock on November 20, 2025.
• The sales were executed at weighted-average prices ranging from $144.0436 to $149.695 per share.
• These transactions were conducted under a Rule 10b5-1 trading plan, which was adopted on February 20, 2025.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 206,955 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 an insider sale could be seen as negative, the fact that it was executed under a pre-arranged 10b5-1 plan mitigates any immediate negative implications, suggesting a planned financial activity rather than a reaction to new negative information.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned and systematic approach to share disposition rather than an opportunistic sale.

Negatives

• An insider sale by a key executive and significant shareholder, such as the CEO and Co-Founder, could be perceived negatively by some investors, even if pre-planned.

Risks

• No specific risks are mentioned in this Form 4 filing beyond the inherent market risk associated with share transactions.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding Atlassian's future performance or strategic direction.

Management Comments

• No direct quotes or paraphrased statements from company management are provided in this Form 4 filing, beyond the factual reporting of the transaction.

Industry Context

This Form 4 filing reports a routine insider transaction under a pre-arranged trading plan, which is a common practice among executives in the technology sector for personal financial planning and diversification. It does not provide specific insights into broader industry trends or competitive landscape.

Comparison to Industry Standards

• Not applicable. This filing details an individual insider trading activity, not company performance or project results that can be compared to industry benchmarks or specific comparable companies.

Related Party Transactions

• Michael Cannon-Brookes, as a Director, 10% Owner, and CEO/Co-Founder, is a related party to Atlassian Corp. His sale of company stock constitutes a related party transaction, executed under a Rule 10b5-1 plan.

Stakeholder Impact

• Shareholders: May view the insider sale with slight caution, though the 10b5-1 plan context generally reduces concerns about opportunistic selling. The overall impact is likely minimal given the pre-planned nature and the relatively small percentage of total holdings sold.
• Employees, Customers, Suppliers, Creditors: No direct impact is indicated by this routine insider trading report.

Next Steps

• The filing does not mention any specific future actions, events, or milestones for the company or the reporting person, beyond the ongoing execution of the 10b5-1 plan.

Key Dates

Recommendation

The insider sale by Michael Cannon-Brookes, while notable, was conducted under a pre-arranged 10b5-1 plan. This suggests a systematic approach to personal financial management rather than a reaction to new material information about Atlassian. Therefore, this specific transaction alone does not provide a strong basis to change an investment thesis, warranting a 'hold' recommendation based solely on this filing.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, 10b5-1 Plan, Share Disposition, CEO, Co-Founder, Director, 10% Owner