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

Atlassian CEO and Co-Founder Michael Cannon-Brookes sold 7,665 Class A Common Stock shares on January 2, 2026, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO, Co-Founder, Director, and 10% Owner of Atlassian Corp (TEAM), reported multiple sales of Class A Common Stock.
• All transactions occurred on January 2, 2026, and were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• A total of 7,665 shares were sold across six separate transactions at weighted-average prices ranging from $154.6801 to $160.62 per share.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 459,900 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The filing reports routine insider sales under a pre-arranged 10b5-1 plan, which is a neutral event. While it's insider selling, the pre-planned nature mitigates negative sentiment.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which indicates the transactions were scheduled in advance and not based on immediate, non-public information, often mitigating negative market perception of insider selling.

Negatives

• Insider selling, even when pre-planned, can sometimes be viewed by the market as a slight negative signal, though the volume in this filing is relatively small compared to the co-founder's overall holdings.

Risks

• No specific risks are mentioned in this Form 4 filing beyond the general market interpretation of insider stock sales.

Future Outlook

N/A. This filing reports past transactions and does not contain forward-looking statements or guidance.

Industry Context

This Form 4 filing reports routine insider stock sales by a co-founder and CEO, a common occurrence in the tech industry for diversification or liquidity purposes, especially when executed under a Rule 10b5-1 plan. It does not reflect broader industry trends or competitive positioning.

Related Party Transactions

• The shares are 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

• Minimal direct impact on shareholders, employees, customers, suppliers, or creditors. The sales represent a small portion of the co-founder's overall holdings and were pre-planned, suggesting no immediate change in company outlook or strategy.

Next Steps

• N/A. This filing reports completed transactions and does not outline future actions or milestones.

Key Dates

Recommendation

The filing reports routine, pre-scheduled insider sales by a co-founder under a 10b5-1 plan. This type of transaction is generally not considered a strong indicator of future company performance or a reason to alter an investment thesis. The volume is not significant enough to suggest a change in management's confidence or a need for immediate action by investors. Therefore, a 'hold' recommendation is appropriate as this filing does not provide new information warranting a change in investment strategy.

Keywords

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