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

Atlassian Co-Founder and Co-CEO Michael Cannon-Brookes reported multiple sales of Class A Common Stock totaling 7,615 shares on January 15, 2026, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's Co-Founder, Co-CEO, Director, and 10% Owner, reported sales of Class A Common Stock.
• Transactions occurred on January 15, 2026.
• A total of 7,615 shares were sold across six separate transactions.
• Sales were executed at weighted-average prices ranging from $128.2503 to $133.454 per share.
• These sales were conducted pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Cannon-Brookes' indirect beneficial ownership through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust decreased from 398,330 shares to 390,915 shares.

Sentiment

Score: 5

Explanation: The filing reports routine insider sales executed under a pre-arranged 10b5-1 trading plan. This type of transaction is generally considered neutral as it reflects planned liquidity or diversification rather than a reaction to new, material company information, thus not significantly altering the fundamental outlook.

Positives

• The sales were executed under a pre-arranged Rule 10b5-1 trading plan, indicating a planned and transparent transaction rather than a reaction to immediate company news.

Negatives

• Michael Cannon-Brookes, a key insider, reduced his beneficial ownership of Atlassian Class A Common Stock by 7,615 shares.

Future Outlook

NA

Industry Context

NA

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 a slight reduction in direct insider ownership, though the planned nature of the sales mitigates concerns about management confidence.

Key Dates

Recommendation

The reported sales by Michael Cannon-Brookes are pursuant to a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled diversification or liquidity event rather than a reaction to new company-specific information. While insider selling reduces direct insider ownership, the planned nature of these transactions suggests no immediate change in the company's fundamental outlook or a lack of confidence from management. Therefore, a 'hold' recommendation is appropriate as this event does not provide new information to alter an existing investment thesis.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, insider trading, stock sale, 10b5-1 plan, beneficial ownership