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 under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO, Co-Founder, Director, and 10% Owner of Atlassian Corp, reported the sale of 7,665 shares of Class A Common Stock.
• The transactions occurred on December 30, 2025, under a Rule 10b5-1 trading plan adopted on February 20, 2025.
• The sales were executed in multiple trades at weighted-average prices ranging from $163.0324 to $164.4725 per share.
• Following these transactions, Michael Cannon-Brookes beneficially owns 7,665 shares indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: Neutral. The sale is a routine insider transaction conducted under a pre-arranged 10b5-1 plan, which typically minimizes negative sentiment associated with insider selling as it's not based on new, non-public information.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned liquidity event rather than a reaction to new, non-public information.

Negatives

• An insider sale, even if pre-planned, reduces the direct ownership stake of a key executive and 10% owner.

Future Outlook

No specific future outlook or guidance is provided in this filing.

Industry Context

This is a routine insider transaction under a pre-arranged plan and does not inherently reflect broader industry trends or competitive positioning. Such sales are common for executives managing personal finances or diversifying portfolios.

Comparison to Industry Standards

• Insider sales under 10b5-1 plans are standard practice across publicly traded companies, allowing executives to sell shares without concerns of insider trading.
• The volume of shares sold (7,665) is relatively small compared to Atlassian's total outstanding shares and the executive's overall holdings, suggesting a routine liquidity event rather than a significant divestment.

Related Party Transactions

• The indirect beneficial ownership of 7,665 shares is held 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 direct insider ownership, but mitigated by the 10b5-1 plan. The overall impact on the company's strategic direction or operational performance is negligible.

Key Dates

Recommendation

The filing reports a routine, pre-planned insider sale under a 10b5-1 plan. This type of transaction is generally not indicative of a change in the company's fundamentals or management's long-term outlook. It's a personal financial management event for the executive. Therefore, it does not warrant a change in investment recommendation based solely on this filing.

Keywords

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