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

Atlassian Co-Founder and CEO Michael Cannon-Brookes sold a total of 7,665 Class A Common Stock shares on December 9, 2025, through a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, and CEO/Co-Founder of Atlassian Corp (TEAM), reported the sale of Class A Common Stock.
• A total of 7,665 shares were sold across four separate transactions on December 9, 2025.
• The sales were executed at weighted-average prices ranging from $158.9986 to $162.2007 per share.
• All transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
• Following these transactions, Mr. Cannon-Brookes indirectly beneficially owns 114,975 Class A Common Stock shares, held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While it's an insider sale, it was conducted under a pre-arranged 10b5-1 trading plan, which typically indicates a planned diversification or liquidity event rather than a signal of negative company prospects. This mitigates potential negative interpretations.

Negatives

• The sale of shares by a key executive, even under a pre-arranged plan, reduces their direct equity stake in the company, which some investors might view with slight caution.

Future Outlook

This filing is an insider transaction report and does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

This insider transaction report does not provide information for an analysis of broader industry trends or competitors.

Comparison to Industry Standards

• Not applicable as this filing is an insider transaction report and does not contain company performance data for industry comparison.

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, which is a related party.

Stakeholder Impact

• Shareholders: A minor reduction in the direct equity stake of a key executive, but the pre-planned nature of the sale under a 10b5-1 plan generally reduces concerns about its implications for company performance.

Key Dates

Recommendation

The reported transactions are routine insider sales executed under a pre-arranged 10b5-1 trading plan. Such planned sales are typically for personal financial management or diversification and do not usually signal a change in the company's fundamental outlook or warrant an immediate change in investment recommendation. Investors should continue to evaluate Atlassian based on its operational performance and market position.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Trading, Stock Sale, 10b5-1 Plan, CEO, Director, 10% Owner