[Form 4] Atlassian Corp Insider Trading Activity

Rhea-AI Filing Summary

Michael Cannon-Brookes, CEO and director of Atlassian Corp (TEAM), reported a transaction dated 10/01/2025 converting 490,560 shares of Class B common stock into 490,560 shares of Class A common stock. The conversion was executed in connection with sales to be effected under a Rule 10b5-1 trading plan adopted by the reporting person on February 20, 2025. Each Class B share converts one-for-one into Class A shares and has no expiration.

The converted shares are held indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. Following the reported transaction, the filing shows beneficial ownership of 47,534,373 Class A shares attributable to the reporting person.

Positive

• Clear disclosure of a 10/01/2025 conversion of 490,560 Class B shares into 490,560 Class A shares
• Transaction executed under a Rule 10b5-1 trading plan adopted on 02/20/2025, indicating pre-established sale terms
• Reporting person retains substantial indirect ownership (47,534,373 Class A shares) via CBC Co Pty Limited as trustee

Negative

• Converted shares are linked to sales to be effected under the 10b5-1 plan, which may increase available public float
• Form indicates insider liquidity actions (conversion to Class A for sale), which some investors may view unfavorably despite rule compliance

Insights

Financial Analyst

TL;DR: Insider converted 490,560 Class B shares to Class A under a pre-existing 10b5-1 plan; beneficial ownership remains substantial.

The Form 4 documents a conversion of 490,560 Class B shares into an equal number of Class A shares on 10/01/2025, tied to a Rule 10b5-1 plan adopted on 02/20/2025. The conversion is one-for-one and appears mechanical (no exercise price), enabling subsequent sales under the trading plan. Reported indirect ownership of 47,534,373 Class A shares via a trust indicates continued significant ownership and control influence. For investors, this is a routine insider liquidity mechanism rather than an operational disclosure; it is neutral from a fundamentals perspective but important for share supply monitoring.

Corporate Governance Expert

TL;DR: Insider used an established 10b5-1 plan to convert voting-class shares to a public class; disclosure aligns with Section 16 requirements.

The filing identifies Michael Cannon-Brookes as a director, CEO and >10% owner, and discloses conversion of Class B to Class A stock on 10/01/2025. The conversion mechanism (one-for-one, no expiration) and the reference to a 10b5-1 plan adopted 02/20/2025 demonstrate pre-planned, Rule-compliant disposition steps. Shares are held indirectly through a trustee, which is typical for estate/trust arrangements. The disclosure is procedurally complete and enhances transparency about potential future sales under the plan.

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).

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)
10/01/2025

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	10/01/2025		C		490,560	A	(1)(2)	490,560	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
Class B Common Stock	(2)	10/01/2025		C			490,560	(2)	(2)	Class A Common Stock	490,560	$0.00	47,534,373	I	See Footnote(3)

Explanation of Responses:

1. Represents the conversion of Class B Common Stock into Class A Common Stock held of record by the Reporting Person in connection with sales to be effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2025.

2. Each share of Class B Common Stock is convertible at any time into Class A Common Stock on a one-to-one basis at the Reporting Person's election and has no expiration date.

3. Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Remarks:

	/s /Drew Parkes, Attorney-in-Fact for Cannon-Brookes Michael	10/01/2025
	** 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.

FAQ

What did Michael Cannon-Brookes report on Form 4 for TEAM?

He reported conversion of 490,560 Class B shares into 490,560 Class A shares on 10/01/2025.

Why were the Class B shares converted to Class A in this filing?

The filing states the conversion was in connection with sales to be effected pursuant to a Rule 10b5-1 trading plan adopted on 02/20/2025.

How many Class A shares does the reporting person beneficially own after the transaction?

The Form 4 shows beneficial ownership of 47,534,373 Class A shares attributable to the reporting person.

How are the shares held according to the Form 4?

Shares are held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Was there a price or expiration associated with the converted shares?

No price or expiration is associated; each Class B share converts one-for-one into Class A and has no expiration date as stated in the filing.