Form 4: Atlassian Co-Founder Sells Shares Under 10b5-1 Plan
Insider Transaction Report
Atlassian Co-Founder Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock on November 28, 2025, through a pre-arranged 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, a Director, 10% Owner, and Co-Founder/CEO of Atlassian Corp (TEAM), reported the sale of Class A Common Stock.
- A total of 7,665 shares were disposed of across four separate transactions on November 28, 2025.
- The sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
- The shares were sold at weighted-average prices ranging from $148.3139 to $151.2248 per share.
- Following these transactions, Mr. Cannon-Brookes indirectly beneficially owns 168,630 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
Sentiment
Score: 5
Explanation: The filing reports a pre-scheduled insider stock sale, which is a neutral event as it was executed under a Rule 10b5-1 plan, indicating no new material information or change in sentiment.
Positives
- The transactions were conducted under a Rule 10b5-1 trading plan, indicating pre-planned sales rather than reactive market timing, which is a positive for corporate governance and transparency.
Negatives
- Insider selling, even when pre-planned, can sometimes be viewed with caution by investors, though the impact is mitigated by the 10b5-1 plan.
Future Outlook
This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.
Industry Context
This Form 4 filing reports a routine insider transaction and does not provide information relevant to broader industry trends or competitive analysis.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Insider Trading Plan Adoption | The reporting person adopted a Rule 10b5-1 trading plan on February 20, 2025, under which these transactions were executed. This plan allows insiders to set up a pre-arranged schedule for buying or selling company stock to avoid accusations of insider trading. | 02/20/2025 | Enhances transparency and mitigates concerns about insider trading by demonstrating that trades are not based on material non-public information. |
Related Party Transactions
- Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, which is a common arrangement for beneficial ownership by executives.
Stakeholder Impact
- Shareholders: The sale represents a minor reduction in the co-founder's indirect holdings, executed under a pre-planned schedule, which typically has minimal direct impact on shareholder sentiment.
- Employees: No direct impact on employees is indicated by this transaction.
Key Dates
| Date | Description |
|---|---|
| 02/20/2025 | Date Rule 10b5-1 trading plan was adopted by the Reporting Person. |
| 11/28/2025 | Date of reported transactions for the sale of Class A Common Stock. |
| 12/01/2025 | Date the Form 4 filing was signed. |
Keywords
Atlassian, TEAM, Michael Cannon-Brookes, Insider Trading, Stock Sale, 10b5-1 Plan, SEC Form 4, Corporate Governance
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