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

Atlassian Co-Founder and CEO Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock on December 29, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-Founder, CEO, Director, and 10% Owner of Atlassian Corp, reported sales of Class A Common Stock.
• On December 29, 2025, a total of 7,665 shares were sold across three separate transactions.
• The sales were executed at weighted-average prices of $163.2863, $163.9401, and $164.6044 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 transactions, Mr. Cannon-Brookes' indirect beneficial ownership, held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, stands at 15,330 shares.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine, pre-planned insider sale under a Rule 10b5-1 trading plan, which typically does not signal a change in company fundamentals or management's long-term outlook.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a structured and pre-scheduled divestment rather than a reaction to immediate market conditions or non-public information. This enhances transparency and reduces concerns about opportunistic insider selling.

Negatives

• The sale of 7,665 shares by a key executive and significant owner, while pre-planned, represents a reduction in direct beneficial ownership, which can sometimes be perceived as a lack of confidence, although mitigated by the 10b5-1 plan.

Future Outlook

No forward-looking statements or guidance are provided in this insider transaction report.

Industry Context

This report details a routine insider transaction specific to Atlassian Corp and does not provide broader industry context or trends.

Related Party Transactions

• The remaining beneficial ownership of 15,330 Class A Common Stock shares is held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, which is a related entity to Michael Cannon-Brookes.

Stakeholder Impact

• Shareholders: A minor reduction in insider ownership, mitigated by the pre-planned nature of the sale under a 10b5-1 plan, which generally reduces concerns about opportunistic selling.

Key Dates

Recommendation

The reported sales by Michael Cannon-Brookes are part of a pre-arranged Rule 10b5-1 trading plan, adopted well in advance of the transaction date. Such planned sales are common for executives for diversification or liquidity purposes and are generally not indicative of a change in the company's fundamental performance or management's long-term view. Therefore, this specific filing alone does not warrant a change in investment recommendation, and a 'hold' stance is appropriate unless other material information suggests otherwise.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, insider trading, Form 4, 10b5-1 plan, stock sale, beneficial ownership