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 for approximately $1.02 million 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), sold a total of 7,665 shares of Class A Common Stock on January 14, 2026.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 20, 2025.
• The shares were sold in multiple transactions at weighted-average prices ranging from $131.8762 to $137.5933 per share.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 398,580 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 sentiment is neutral. While an insider sale can sometimes be viewed negatively, the fact that it was executed under a pre-arranged 10b5-1 plan mitigates concerns that it's based on new, undisclosed negative information. It's a routine, scheduled transaction.

Positives

• The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled sale rather than a discretionary one based on new material information.

Negatives

• A significant insider sale by a key executive and 10% owner, even if pre-planned, reduces direct insider ownership and could be perceived as a slight negative signal by some investors.

Risks

• The sale of shares by a high-level insider, such as the CEO and Co-Founder, could be interpreted by the market as a lack of confidence, potentially leading to negative investor sentiment.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This filing is an individual insider transaction report and does not provide direct insights into broader industry trends or competitive landscape. However, insider selling activity in the technology sector is routinely monitored by investors for sentiment indicators.

Related Party Transactions

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

Stakeholder Impact

• Shareholders may observe the reduction in insider ownership, which could lead to varied interpretations regarding management's long-term commitment or valuation perspective, despite the 10b5-1 plan.

Key Dates

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, 10b5-1 Plan, Stock Transaction, CEO, Co-Founder, Director, 10% Owner