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 10, 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 sales of Class A Common Stock.
• On December 10, 2025, a total of 7,665 shares were sold across four separate transactions.
• The sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Michael Cannon-Brookes on February 20, 2025.
• The shares were sold at weighted-average prices ranging from $160.9058 to $163.6574 per share.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 107,310 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 as the insider sales were conducted under a pre-arranged 10b5-1 trading plan, which is a common practice for managing liquidity and does not typically signal a change in the insider's view of the company's prospects.

Positives

• The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled liquidity event rather than a reaction to new, undisclosed negative information.

Negatives

• Insider selling, even if pre-planned, reduces the insider's direct ownership stake in the company.

Future Outlook

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

Industry Context

This insider transaction is specific to Michael Cannon-Brookes' personal investment strategy and does not inherently reflect broader industry trends or competitive dynamics within the software sector.

Related Party Transactions

• The shares beneficially owned following the transactions are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, a common structure for insider holdings.

Stakeholder Impact

• Shareholders may note a slight reduction in the direct ownership stake of a key executive, though the pre-planned nature of the sale mitigates concerns about its implications.

Key Dates

Recommendation

The insider sale was conducted under a pre-arranged 10b5-1 trading plan, which typically indicates a scheduled liquidity event rather than a reaction to new material information. Therefore, this specific transaction does not provide a strong signal for a change in investment recommendation.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, 10b5-1 Plan, Equity Transaction, Software Company