Form 4: Atlassian Co-Founder Sells Shares Under Pre-Arranged Plan

Atlassian CEO and Co-Founder Michael Cannon-Brookes sold 7,665 shares of Class A Common Stock on September 11, 2025, under a Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO, Co-Founder, Director, and 10% Owner of Atlassian Corp, reported the sale of 7,665 shares of Class A Common Stock.
• The transactions occurred on September 11, 2025, and were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• The sales were conducted in multiple trades at weighted-average prices ranging from $175.7152 to $178.4167 per share.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 99,645 shares of Class A Common Stock.
• The shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 5

Explanation: The sale of shares by a co-founder is a routine diversification event, especially when conducted under a pre-arranged 10b5-1 trading plan, which mitigates concerns about opportunistic selling. This is a neutral event.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which indicates the transactions were scheduled in advance and not based on new, material non-public information.

Negatives

• The transactions represent a reduction in the beneficial ownership of Class A Common Stock by a key insider, specifically the CEO and Co-Founder.

Future Outlook

No forward-looking statements or guidance are provided in this transactional filing.

Industry Context

Insider transactions, particularly those executed under Rule 10b5-1 plans, are a common practice for executives to manage personal finances and diversify holdings. These sales are generally not indicative of specific company or industry-wide trends but rather individual financial planning.

Related Party Transactions

• The 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 for beneficial ownership purposes.

Stakeholder Impact

• Shareholders: A slight reduction in insider ownership, though mitigated by the pre-planned nature of the sale under a 10b5-1 plan, which typically lessens concerns about negative sentiment from management.

Key Dates

Recommendation

The reported insider sales by Michael Cannon-Brookes are part of a pre-arranged Rule 10b5-1 trading plan, adopted well in advance of the transaction date. Such planned sales are common for executives for diversification and liquidity purposes and do not typically signal a change in the company's fundamental outlook or warrant an immediate change in investment recommendation. Investors should continue to hold based on broader company performance and market conditions.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, Insider Sale, Form 4, 10b5-1 Plan, Class A Common Stock, Executive Compensation