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

Atlassian Co-Founder and CEO Michael Cannon-Brookes sold 7,665 Class A Common Stock shares on August 26, 2025, as part of 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 August 26, 2025, and were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• The shares were sold at weighted-average prices ranging from $164.5556 to $169.635 per share.
• Following these transactions, Cannon-Brookes indirectly beneficially owns 183,960 shares through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sale of shares by a key insider is generally a negative signal. However, the execution under a pre-arranged 10b5-1 trading plan mitigates the negative sentiment, as it indicates a planned liquidity event rather than a reaction to new, adverse information.

Negatives

• A key insider, who is a Co-Founder, CEO, and Director, sold a significant number of shares.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Shares are indirectly held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, which is a related entity to the reporting person.

Stakeholder Impact

• Shareholders may interpret the insider sale as a negative signal, although the 10b5-1 plan mitigates concerns about immediate adverse company-specific news.

Key Dates

Recommendation

While an insider sale by a Co-Founder and CEO could be a cause for concern, the transaction was executed under a pre-arranged 10b5-1 trading plan. This suggests a planned liquidity event rather than a reaction to new, negative company developments. Investors should monitor future filings and company performance, but this specific transaction alone does not warrant a 'sell' recommendation, nor does it provide new positive information for a 'buy'.

Keywords

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