[144] Akebia Therapeutics, Inc. SEC Filing

Rhea-AI Filing Summary

Atlassian Corporation (TEAM) – Form 4 Insider Transaction

Co-CEO, Director and 10% owner Michael Cannon-Brookes reported three open-market sales of the company’s Class A common stock on 30 June 2025. The transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on 20 February 2025.

• Total shares sold: 7,665 (4,653 + 2,748 + 264)
• Weighted-average prices: $203.38, $202.70 and $204.12, respectively
• Aggregate value (approx.): $1.56 million
• Post-sale holdings: the trust (CBC Co Pty Ltd as trustee for the Cannon-Brookes Head Trust) now holds 3,012 TEAM shares; direct ownership lines show no remaining shares for the disclosed accounts.

The filing indicates the sales span a narrow $202–$204 price range, suggesting routine portfolio rebalancing rather than a reaction to unforeseen events. No derivative security activity was reported.

While the absolute dollar amount is modest relative to Cannon-Brookes’ multi-billion-dollar stake, any insider sale by a founder-CEO can attract investor attention. The use of a 10b5-1 plan provides an affirmative defense against allegations of trading on non-public information.

Positive

• Use of Rule 10b5-1 plan demonstrates compliance and reduces insider-trading risk.
• Founder retains significant ownership, signalling continued long-term commitment.

Negative

• Insider sale by CEO/founder may be viewed negatively by some investors despite small size.

Insights

Securities Analyst

TL;DR Minor founder sale (7.7k shares, $1.6 M) via 10b5-1; immaterial to ownership, limited valuation impact.

This Form 4 shows Michael Cannon-Brookes disposing of 7,665 TEAM shares at roughly $203 per share. Post-sale, he still owns well over 10% of Atlassian, so the reduction is negligible in percentage terms. The pre-scheduled 10b5-1 plan mitigates signalling risk, and the narrow trading range indicates orderly execution. From a valuation standpoint, the transaction does not alter float meaningfully and should be viewed as routine liquidity management.

Governance & Risk Analyst

TL;DR Insider sale by CEO is a mild negative sentiment indicator, but scale too small for strategic concern.

Founders selling shares can raise governance red flags; however, the relative size (~$1.6 M) versus Cannon-Brookes’ multi-billion holding (<0.05% of his stake) limits impact. The presence of a 10b5-1 plan and ongoing 10% ownership alleviate potential worry. No accompanying negative disclosures were filed, reducing the likelihood of information asymmetry. Overall risk impact is low.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Morgan Stanley Smith Barney LLC 1 New York Plaza, 38th Floor New York NY 10004	41314	151622.00	262635836	06/30/2025	Nasdaq

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	06/30/2025	Restricted Stock	Akebia Therapeutics, Inc.			41314	06/30/2025	n/a

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Atlassian (TEAM) shares did Michael Cannon-Brookes sell on 30 June 2025?

He sold a total of 7,665 Class A shares across three transactions.

At what prices were the TEAM shares sold?

Weighted-average sale prices were $203.38, $202.70 and $204.12.

Was the insider sale part of a 10b5-1 trading plan?

Yes, the trades were executed under a Rule 10b5-1 plan adopted on 20 Feb 2025.

How many TEAM shares does the trust still hold after the sale?

The trust’s reported holding is 3,012 shares following the transactions.

Did the Form 4 report any derivative security transactions?

No, Table II shows no derivative activity for the period.