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

Atlassian Co-Founder Michael Cannon-Brookes sold Class A Common Stock totaling 8,665 shares on January 28, 2026, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, a Director, 10% Owner, CEO, and Co-Founder of Atlassian Corp (TEAM), reported sales of Class A Common Stock.
• On January 28, 2026, a total of 8,665 shares of Class A Common Stock were disposed of.
• The transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by Michael Cannon-Brookes on February 20, 2025.
• The sales occurred at weighted-average prices ranging from $134.6723 to $138.5868 per share.
• Following these transactions, Michael Cannon-Brookes beneficially owns 329,595 shares of Class A Common Stock indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The sales are part of a pre-arranged 10b5-1 plan, which is a common practice for executives to manage personal liquidity and diversification, and does not necessarily reflect a change in the executive's outlook on the company's future.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider sales under Rule 10b5-1 plans are a standard practice for executives to manage personal finances, diversify holdings, and ensure compliance with insider trading regulations by pre-scheduling transactions. This is a routine disclosure for a high-ranking executive at a major software company like Atlassian, which operates in the competitive enterprise software and collaboration tools market.

Related Party Transactions

• Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, which is an indirect beneficial ownership structure related to the reporting person.

Stakeholder Impact

• Shareholders: The sale of shares by a co-founder and significant owner, even under a 10b5-1 plan, may be observed by shareholders as a routine liquidity event or, by some, as a potential signal, though the pre-scheduled nature typically mitigates strong negative interpretations.

Key Dates

Recommendation

The filing reports routine insider sales executed under a pre-arranged 10b5-1 plan, which is a common practice for executive liquidity and diversification. This transaction does not provide new fundamental information about Atlassian's business performance or future prospects that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate, maintaining current positions while awaiting further operational or strategic updates.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Corporate Governance