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

Atlassian CEO and Co-Founder Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock on January 29, 2026, as part of a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO, Co-Founder, Director, and 10% Owner of Atlassian Corp (TEAM), reported multiple sales of Class A Common Stock.
• A total of 7,665 shares were disposed of on January 29, 2026, through several transactions.
• The sales were executed at weighted-average prices ranging from $116.6967 to $123.17 per share.
• These transactions were conducted 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 321,930 shares of Class A Common Stock, held by 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 were pre-planned under a Rule 10b5-1 plan, which mitigates any negative sentiment typically associated with insider selling, indicating routine financial management rather than a change in company outlook.

Positives

• The sales were executed under a pre-arranged Rule 10b5-1 trading plan, which indicates a planned and routine transaction for personal financial management rather than a reaction to recent company performance or market conditions.

Negatives

• The transactions represent a reduction in direct insider ownership, which some investors may view as a slight negative, although the pre-planned nature mitigates this concern.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that planned insider sales via Rule 10b5-1 plans are common among executives of mature technology companies like Atlassian, often for diversification or liquidity management, and are generally viewed as less indicative of management's view on future stock performance compared to unplanned sales.

Comparison to Industry Standards

• Insider sales under 10b5-1 plans are a standard practice for executives at large technology firms such as Microsoft (MSFT), Apple (AAPL), and Google (GOOGL) to manage personal finances while adhering to insider trading regulations.
• The volume of shares sold by Michael Cannon-Brookes represents a small fraction of his total indirect holdings, which is typical for routine diversification rather than a significant divestment.

Related Party Transactions

• The shares beneficially owned by Michael Cannon-Brookes are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Stakeholder Impact

• Shareholders may observe a slight reduction in direct insider ownership, though the pre-planned nature of the sale under a 10b5-1 plan suggests no immediate negative implications for company strategy or performance.

Key Dates

Recommendation

The insider sales by Michael Cannon-Brookes were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a routine financial management decision rather than a reflection of a change in the company's fundamental outlook. Such planned sales typically do not warrant a change in investment thesis, thus a 'hold' recommendation is appropriate as the filing provides no new information to alter the existing investment stance.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, 10b5-1 Plan, Executive Stock Sale, Software Company, Cloud Software