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 December 4, 2025, through a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO, Co-Founder, Director, and 10% Owner of Atlassian Corp (TEAM), reported the sale of Class A Common Stock.
• The transactions occurred on December 4, 2025, and were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• A total of 7,665 shares were sold across four separate transactions.
• The sales were executed at weighted-average prices ranging from $154.5227 to $157.4325 per share.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 137,970 shares of Class A Common Stock, held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The sale of shares by a key insider, while a reduction in direct ownership, was conducted under a pre-arranged 10b5-1 trading plan. Such plans are established in advance to allow insiders to sell shares without being accused of trading on material non-public information, and thus typically do not reflect a change in management's confidence in the company's future prospects.

Negatives

• Insider selling, even when pre-planned, can sometimes be perceived by some market participants as a slight negative signal, though its impact is often mitigated by the pre-scheduled nature.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding Atlassian Corp's future performance or strategic direction.

Industry Context

This insider transaction is a routine disclosure and does not provide specific insights into broader industry trends or competitive dynamics within the software development and collaboration tools market. Such transactions are common for executives managing personal finances.

Related Party Transactions

• The shares beneficially owned following the reported transactions are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating a related party holding structure for the insider's remaining shares.

Stakeholder Impact

• Shareholders: The sale represents a minor reduction in the insider's overall stake, which is generally not considered a significant event given the pre-planned nature of the transaction. It is unlikely to materially impact shareholder confidence.
• Employees, Customers, Suppliers, Creditors: No direct impact on these stakeholders is indicated by this routine insider transaction.

Key Dates

Recommendation

The reported insider sales by Michael Cannon-Brookes are routine transactions executed under a pre-established Rule 10b5-1 trading plan. These planned sales are typically for personal financial management and do not reflect a change in the company's fundamental outlook or performance. Therefore, this filing alone does not warrant a change in investment recommendation, and a 'hold' stance is appropriate for existing investors, pending further operational or financial updates from Atlassian.

Keywords

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