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

Atlassian Co-Founder and CEO Michael Cannon-Brookes reported multiple sales of Class A Common Stock totaling 7,665 shares under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, and CEO/Co-Founder of Atlassian Corp (TEAM), reported sales of Class A Common Stock.
• The transactions occurred on December 22, 2025, and were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• A total of 7,665 shares of Class A Common Stock were sold across five separate transactions.
• The sales were conducted at weighted-average prices ranging from $161.9988 to $165.68 per share.
• Following these reported transactions, the indirect beneficial ownership of Class A Common Stock held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust decreased to 45,990 shares.

Sentiment

Score: 5

Explanation: A routine insider stock sale executed under a pre-arranged 10b5-1 trading plan, which is a common practice for executives to manage personal finances and diversify holdings without implying a change in company outlook. This is generally considered a neutral event.

Stakeholder Impact

• Shareholders: Minor impact, as the sales are pre-planned and do not typically signal new material information or a change in company fundamentals.

Key Dates

Recommendation

The reported sales by a co-founder and CEO are part of a pre-arranged 10b5-1 trading plan, indicating a systematic approach to managing personal holdings rather than a reaction to new material non-public information. Such routine sales are common for executives and do not inherently signal a negative outlook for the company. Investors should consider this a neutral event in the context of broader company performance and market conditions, maintaining a 'hold' recommendation unless other fundamental factors change.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Trading, Stock Sale, 10b5-1 Plan, Executive Compensation