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

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

Summary

• Michael Cannon-Brookes, Atlassian's Co-Founder, CEO, Director, and 10% Owner, sold a total of 7,665 shares of Class A Common Stock.
• The sales occurred on January 6, 2026, with weighted-average prices ranging from $151.8475 to $160.5356 per share.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these sales, Cannon-Brookes indirectly beneficially owns 444,570 shares of Class A Common Stock, held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: Neutral. The sale is a pre-planned transaction under a 10b5-1 plan, which is a common practice for insiders to manage their equity holdings without implying a negative outlook on the company.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a structured and non-discretionary approach to managing personal holdings rather than an immediate reaction to market conditions.

Negatives

• Insider selling, even if pre-planned, can sometimes be perceived negatively by the market as it reduces the insider's direct equity stake in the company.

Future Outlook

NA

Industry Context

This is a routine insider transaction and does not directly relate to broader industry trends, though it reflects an individual's portfolio management within the tech sector.

Related Party Transactions

• Shares are indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating a transaction involving a related entity for beneficial ownership.

Stakeholder Impact

• Shareholders may note the reduction in direct insider ownership, though the pre-planned nature mitigates concerns about immediate sentiment. The overall impact is likely minimal given the small percentage of total shares outstanding and the existence of a 10b5-1 plan.

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. This type of sale is typically for personal financial planning and diversification, rather than a reflection of new negative information about Atlassian's prospects. Given the pre-planned nature and the relatively small number of shares sold compared to his remaining holdings and the company's overall market capitalization, this event alone does not warrant a change in investment thesis. Investors should continue to hold based on the company's fundamentals and broader market conditions.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, 10b5-1 Plan, Equity Transaction, Director Sale, CEO Sale, Share Sale