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

Atlassian Co-Founder and CEO Michael Cannon-Brookes sold a total of 7,665 Class A Common Stock shares on August 21, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (TEAM), reported the sale of 7,665 shares of Class A Common Stock.
• The transactions occurred on August 21, 2025, and were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• The shares were sold in three separate transactions at weighted-average prices of $163.6463 (1,400 shares), $165.11 (469 shares), and $164.3954 (5,796 shares).
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 206,955 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 insider sale was conducted under a pre-arranged 10b5-1 trading plan, which typically indicates a scheduled liquidity event for personal financial planning rather than a reaction to new company-specific news, thus having a neutral impact on sentiment.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating it was scheduled in advance and not based on recent material non-public information, which can reduce market speculation.

Negatives

• Insider selling, even under a 10b5-1 plan, can sometimes be perceived by the market as a lack of immediate upside potential, though this is mitigated by the pre-scheduled nature of the transaction.

Related Party Transactions

• Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Stakeholder Impact

• Shareholders may note the insider sale, but its execution under a 10b5-1 plan generally mitigates concerns about management's immediate outlook on the company, as it is a pre-scheduled event.

Key Dates

Recommendation

The reported insider sale by Michael Cannon-Brookes is a routine transaction executed under a pre-established Rule 10b5-1 trading plan. Such sales are typically for personal financial planning and do not necessarily reflect a change in the insider's view of the company's future prospects. Without additional company-specific news or broader market shifts, this filing alone does not warrant a change from a 'hold' recommendation.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, CEO, Co-Founder