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TEAM CEO disclosed 7,665-share sale under 10b5-1 plan

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Michael Cannon-Brookes, CEO and 10% owner of Atlassian Corporation (TEAM), reported multiple open-market sales of Class A common stock executed under a Rule 10b5-1 trading plan. On 10/08/2025 the reporting person sold a total of 7,665 shares in four separate transactions at weighted-average prices of $151.9722, $149.7189, $152.6292, and $150.5895, with the filing showing 450,556 shares held indirectly after the first sale and ending with 444,570 shares beneficially owned.

The filing states the trades were made pursuant to a Rule 10b5-1 plan adopted on 02/20/2025, and shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. The Form 4 is signed by an attorney-in-fact and discloses weighted-average execution prices and ranges for the intraday trades, with the reporting person offering to provide full trade details upon request.

Positive

  • Sales executed under a Rule 10b5-1 plan, indicating a pre-arranged, documented process
  • Complete disclosure of weighted-average prices and intraday price ranges, enabling transparency for regulators and investors
  • Clear identification of indirect ownership through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust

Negative

  • Insider disposed of 7,665 Class A shares on 10/08/2025, reducing beneficial holdings from 450,556 to 444,570
  • Sales represent immediate increase in available supply which could be perceived negatively by some investors

Insights

Insider sales were executed under a pre-established Rule 10b5-1 plan, showing procedural compliance.

The trades on 10/08/2025 were disclosed as executed under a Rule 10b5-1 plan adopted on 02/20/2025, which provides an affirmative defense to insider trading rules when properly documented. The filing identifies indirect ownership through CBC Co Pty Limited as trustee, clarifying the control structure around the reported shares.

Key items to watch include any future Forms 4 showing additional sales or changes to the 10b5-1 plan and whether beneficial ownership falls below significant thresholds; these are monitorable near-term governance signals for investors.

Aggregate sales of 7,665 shares represent a modest flow relative to total holdings but are plainly disclosed.

The filing records four disposals totaling 7,665 shares at weighted-average prices reported between approximately $149.72 and $152.63, with intraday price ranges supplied for each lot. The report supplies enough granularity for market participants to understand immediate supply impact from this insider.

Market observers may compare these volumes and prices to daily average volume for the ticker to gauge execution impact; subsequent Form 4s will show whether this is a one-off tranche or part of a larger, systematic liquidation under the 10b5-1 plan.

Insider Cannon-Brookes Michael
Role CEO, Co-Founder
Sold 7,665 shs ($1.16M)
Type Security Shares Price Value
Sale Class A Common Stock 1,679 $151.9722 $255K
Sale Class A Common Stock 3,086 $149.7189 $462K
Sale Class A Common Stock 1,450 $152.6292 $221K
Sale Class A Common Stock 1,450 $150.5895 $218K
Holdings After Transaction: Class A Common Stock — 450,556 shares (Indirect, See Footnote)
Footnotes (1)
  1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2025. This transaction was executed in multiple trades during the day at prices ranging from $151.34 to $152.33. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. This transaction was executed in multiple trades during the day at prices ranging from $149.18 to $150.16. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $152.37 to $153.07. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $150.21 to $150.90. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
 Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Cannon-Brookes Michael
(Last) (First) (Middle)
C/O ATLASSIAN CORPORATION
350 BUSH STREET, FLOOR 13
(Street)
SAN FRANCISCO CA 94104
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Atlassian Corp [ TEAM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
CEO, Co-Founder
3. Date of Earliest Transaction (Month/Day/Year)
10/08/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 10/08/2025 S(1) 1,679 D $151.9722(2) 450,556 I See Footnote(3)
Class A Common Stock 10/08/2025 S(1) 3,086 D $149.7189(4) 447,470 I See Footnote(3)
Class A Common Stock 10/08/2025 S(1) 1,450 D $152.6292(5) 446,020 I See Footnote(3)
Class A Common Stock 10/08/2025 S(1) 1,450 D $150.5895(6) 444,570 I See Footnote(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2025.
2. This transaction was executed in multiple trades during the day at prices ranging from $151.34 to $152.33. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
3. Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
4. This transaction was executed in multiple trades during the day at prices ranging from $149.18 to $150.16. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
5. This transaction was executed in multiple trades during the day at prices ranging from $152.37 to $153.07. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
6. This transaction was executed in multiple trades during the day at prices ranging from $150.21 to $150.90. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
Remarks:
/s/ Veena Bhatia, Attorney-in-Fact for Cannon-Brookes Michael 10/09/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What did Michael Cannon-Brookes (TEAM) report on his Form 4?

He reported four open-market sales totaling 7,665 Class A shares executed on 10/08/2025 under a Rule 10b5-1 trading plan.

Were these sales part of a pre-arranged plan for TEAM insider trading?

Yes. The transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on 02/20/2025.

What prices were the TEAM shares sold at?

Weighted-average prices reported were $151.9722, $149.7189, $152.6292, and $150.5895, with intraday ranges disclosed for each lot.

How many TEAM shares does the reporting person beneficially own after these transactions?

The filing shows beneficial ownership ending at 444,570 Class A shares following the reported sales.

Who holds the shares indirectly for Michael Cannon-Brookes?

Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust according to the Form 4.