SCHEDULE 13G/A: Michael Cannon-Brookes Maintains Significant Stake in Atlassian, Holding 22.9% of Class A Equivalent Shares

Atlassian co-founder Michael Cannon-Brookes has reaffirmed his substantial beneficial ownership in the company, reporting a 22.9% stake in Class A equivalent shares as of March 31, 2025, through his Class B holdings.

Summary

• Michael Cannon-Brookes, an Australian citizen, reported beneficial ownership of 49,004,024 shares of Atlassian Corporation's Class B Common Stock.
• These shares are held by CBC Co Pty Ltd as trustee of the Cannon-Brookes Head Trust.
• The reported ownership represents approximately 22.9% of the outstanding Class A Common Stock, calculated by treating the Class B shares as converted into Class A shares for ownership percentage purposes.
• As of March 31, 2025, Atlassian had 165,150,665 shares of Class A Common Stock and 98,008,049 shares of Class B Common Stock outstanding.
• Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the holder's option and upon certain other events.
• Each Class B share is entitled to ten votes, while Class A shares have one vote.
• The 49,004,024 Class B shares held by Mr. Cannon-Brookes represent approximately 42.8% of the aggregate combined voting power of Atlassian's outstanding Class A and Class B Common Stock.
• Mr. Cannon-Brookes retains sole voting and sole dispositive power over these 49,004,024 shares.

Sentiment

Score: 5

Explanation: The document is a standard beneficial ownership filing (Schedule 13G/A) reporting a co-founder's stake. It contains no new operational, financial, or strategic information that would typically influence sentiment positively or negatively beyond confirming existing ownership structure.

Positives

• Significant insider ownership (22.9% of Class A equivalent shares) by a co-founder, indicating strong alignment with long-term company success.
• Substantial voting control (approximately 42.8% of combined voting power) through Class B shares, providing stability in strategic direction.

Future Outlook

This document is a factual report of beneficial ownership and does not contain forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure of beneficial ownership by a significant shareholder, common for publicly traded companies. It highlights the continued substantial influence of a co-founder in a major software company, which is typical for companies with dual-class share structures designed to maintain founder control.

Comparison to Industry Standards

• This document is a beneficial ownership report, not a financial performance report, so direct comparisons to specific companies' financial results or project outcomes are not applicable.
• Dual-class share structures, like Atlassian's Class A and Class B stock, are common in the technology industry (e.g., Google, Meta, Berkshire Hathaway) to allow founders or key insiders to retain significant voting control despite potentially smaller equity stakes, which is consistent with industry practices for high-growth tech firms.

Related Party Transactions

• This filing reports the beneficial ownership of a co-founder, which is inherently a related party holding, but it does not detail specific transactions beyond the ownership itself.

Stakeholder Impact

• Shareholders: Reaffirms significant insider control, which can be viewed positively for long-term strategic stability but also raises questions about minority shareholder influence.
• Employees, Customers, Suppliers, Creditors: No direct impact is indicated by this ownership filing.

Key Dates

Keywords

Atlassian Corporation, Michael Cannon-Brookes, beneficial ownership, Schedule 13G, Class A Common Stock, Class B Common Stock, insider ownership, voting power, SEC filing