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

Atlassian CEO and Co-Founder Michael Cannon-Brookes sold a total of 7,665 Class A Common Stock shares on September 2, 2025, under a pre-arranged trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (TEAM), sold 7,665 shares of Class A Common Stock on September 2, 2025.
• The sales were executed in four separate transactions at weighted-average prices ranging from $172.3002 to $174.6357 per share.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• Following these transactions, Cannon-Brookes indirectly beneficially owns 153,300 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While it's an insider sale, it was conducted under a pre-arranged 10b5-1 plan, which mitigates the negative perception often associated with insider selling. It's a routine part of executive compensation and financial planning.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a structured and pre-determined approach to share divestment rather than an immediate reaction to market conditions.

Negatives

• An insider sale, even if pre-planned, reduces the direct equity stake of a key executive and 10% owner in the company.

Risks

• While the sale is pre-planned, significant or continuous insider selling could be perceived by the market as a lack of confidence, potentially impacting investor sentiment.

Future Outlook

NA

Industry Context

This filing is a standard insider transaction report and does not provide specific industry context or relate to broader industry trends beyond the general market conditions that might influence an executive's decision to execute a pre-planned sale.

Corporate Governance

Related Party Transactions

• Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating an indirect beneficial ownership structure. This is a common arrangement for high-net-worth individuals and is disclosed as part of the beneficial ownership.

Stakeholder Impact

• Shareholders: The sale represents a minor dilution of the insider's stake, but given it's a pre-planned transaction, it is unlikely to significantly impact shareholder confidence unless it signals a broader trend of insider divestment.
• Employees: No direct impact on employees.

Key Dates

Recommendation

This Form 4 filing reports a routine, pre-scheduled insider sale under a 10b5-1 plan. Such transactions are typically for personal financial planning and do not inherently signal a change in the company's fundamental outlook or the insider's confidence. Without additional information on company performance, market conditions, or other insider activity, this filing alone does not warrant a change from a 'hold' position.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, insider trading, Form 4, 10b5-1 plan, share sale, CEO, co-founder, director, 10% owner