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

Atlassian Co-Founder and CEO Michael Cannon-Brookes reported the sale of 7,665 Class A Common Stock shares through a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, Co-Founder, CEO, Director, and 10% Owner of Atlassian Corp (TEAM), reported the sale of Class A Common Stock.
• The transactions occurred on October 28, 2025.
• A total of 7,665 shares were sold across three separate transactions.
• The sales were executed pursuant to a Rule 10b5-1 trading plan adopted on February 20, 2025.
• The shares were sold at weighted-average prices ranging from $162.6786 to $164.3014 per share.
• Following these transactions, Michael Cannon-Brookes indirectly beneficially owns 337,260 shares of Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Sentiment

Score: 6

Explanation: The sale of shares by a key insider, Michael Cannon-Brookes, is a routine transaction executed under a pre-arranged Rule 10b5-1 trading plan. This suggests a planned diversification or liquidity event rather than a reaction to specific company news, mitigating potential negative sentiment. The volume of shares sold is also relatively small compared to his overall holdings.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled and not event-driven transaction.

Negatives

• Insider selling, even if pre-planned, can sometimes be perceived negatively by the market, though the volume here is relatively small.

Future Outlook

NA

Industry Context

This filing is a routine insider transaction report and does not provide information relevant to broader industry trends or competitors.

Related Party Transactions

• The shares beneficially owned following the transactions are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating a related party structure for holding assets.

Stakeholder Impact

• Shareholders: Minor impact as the sale is a routine, pre-planned transaction and not indicative of a change in company fundamentals.

Key Dates

Recommendation

The reported transactions are routine sales of Class A Common Stock by a key insider, Michael Cannon-Brookes, executed under a pre-arranged Rule 10b5-1 trading plan. 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 management's confidence. Therefore, the filing itself does not provide a basis for changing an investment recommendation.

Keywords

Atlassian, TEAM, Michael Cannon-Brookes, insider trading, stock sale, Form 4, 10b5-1 plan, beneficial ownership, CEO, Director, 10% Owner