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

Atlassian Co-Founder and CEO Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock on February 2, 2026, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Atlassian's Co-Founder, CEO, Director, and 10% owner, reported the sale of 7,665 shares of Class A Common Stock.
• The sales occurred on February 2, 2026, at weighted-average prices ranging from $114.0297 to $119.29 per share.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Cannon-Brookes indirectly beneficially owns 306,600 shares of Class A Common Stock 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 because the sales were executed under a pre-arranged 10b5-1 plan, indicating routine financial management rather than a reaction to new company-specific information.

Negatives

• Insider selling, even if pre-planned, can sometimes be perceived negatively by the market as it reduces the insider's direct stake.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider sales under a Rule 10b5-1 plan are common among executives of mature technology companies like Atlassian, often used for personal financial planning and diversification, and are generally less indicative of management's view on future company performance compared to open market, unplanned sales.

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 a slight reduction in direct insider ownership, though the impact is mitigated by the pre-planned nature of the sales.
• No direct impact on employees, customers, suppliers, or creditors is indicated by this filing.

Key Dates

Recommendation

The insider sales by Michael Cannon-Brookes were executed under a pre-arranged Rule 10b5-1 trading plan, which typically signals routine personal financial management rather than a change in the insider's outlook on the company's prospects. Therefore, this filing alone does not provide a strong basis for a change in investment thesis, warranting a 'hold' recommendation.

Keywords

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