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

Atlassian Corp's Co-Founder and CEO, Michael Cannon-Brookes, sold 7,665 shares of Class A Common Stock for approximately $1.25 million under a pre-arranged trading plan.

Summary

• Michael Cannon-Brookes, Atlassian Corp's Director, 10% Owner, CEO, and Co-Founder, reported the sale of Class A Common Stock.
• A total of 7,665 shares were sold on December 11, 2025, through four separate transactions.
• The sales were executed at weighted-average prices ranging from $161.8435 to $164.71 per share.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
• Following these sales, Mr. Cannon-Brookes beneficially owns 99,645 shares indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 4

Explanation: The sentiment is neutral to slightly cautious. While insider sales can sometimes be viewed negatively, the transaction was pre-planned under a Rule 10b5-1 plan, which mitigates the immediate signaling effect. However, it still represents a reduction in direct insider holdings.

Negatives

• The sale of shares by a key insider, such as the CEO and Co-Founder, could be perceived negatively by some investors, potentially signaling a reduction in direct exposure to the company's stock.

Future Outlook

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

Management Comments

• The transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2025.

Industry Context

This filing reports an individual insider transaction and does not provide broader industry context or trends. It reflects a planned divestment by a key executive within the software and collaboration tools sector.

Related Party Transactions

• Shares beneficially owned following the 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 remaining shares.

Stakeholder Impact

• Shareholders may interpret the insider sale as a signal, potentially influencing short-term market sentiment, although the pre-planned nature of the sale under Rule 10b5-1 typically reduces its perceived significance compared to an unplanned sale.

Key Dates

Keywords

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