Form 4: Atlassian Co-Founder Sells Shares Under 10b5-1 Plan
Insider Trading Report
Atlassian CEO and Co-Founder Michael Cannon-Brookes sold 7,665 Class A Common Stock shares on January 8, 2026, as part of a pre-arranged 10b5-1 trading plan.
Summary
- Michael Cannon-Brookes, CEO, Co-Founder, Director, and 10% Owner of Atlassian Corp (TEAM), reported the sale of 7,665 shares of Class A Common Stock.
- The transactions occurred on January 8, 2026, at weighted-average prices ranging from $149.6817 to $159.06 per share.
- These sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Cannon-Brookes on February 20, 2025.
- Following these transactions, Mr. Cannon-Brookes indirectly beneficially owns 429,240 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
Sentiment
Score: 5
Explanation: The sentiment is neutral. While an insider sale can be perceived negatively, the fact that it was executed under a pre-arranged 10b5-1 plan mitigates concerns that it's based on new, adverse information. It's a routine liquidity event for a long-term executive.
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, negative company-specific information.
Negatives
- An insider sale, even if planned, reduces the direct equity stake of a key executive, which some investors might interpret as a slight reduction in alignment with shareholder interests.
Future Outlook
NA
Industry Context
NA
Related Party Transactions
- Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating indirect beneficial ownership by a related entity.
Stakeholder Impact
- Shareholders may note the reduction in direct equity held by a key executive, though the 10b5-1 plan context suggests it's a planned event rather than a signal of lack of confidence.
Key Dates
| Date | Description |
|---|---|
| 2025-02-20 | Rule 10b5-1 trading plan adopted by Michael Cannon-Brookes. |
| 2026-01-08 | Date of Class A Common Stock sales transactions. |
| 2026-01-09 | Date Form 4 was signed. |
Keywords
Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, 10b5-1 Plan, Stock Transaction, CEO, Co-Founder, Director, 10% Owner
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