TEAM Form 4: CEO Cannon-Brookes discloses 7,665-share sale under 10b5-1 plan
Rhea-AI Filing Summary
Michael Cannon-Brookes, identified as CEO, co-founder and a >10% owner of Atlassian Corporation (TEAM), reported multiple sales of Class A common stock executed under a Rule 10b5-1 trading plan on 09/17/2025. The reporting lines list six separate dispositions totaling 7,665 shares sold at reported weighted-average prices per tranche ranging from about $172.12 to $176.72. After these transactions the report shows an indirect beneficial ownership of 68,985 Class A shares held through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. Each sale line includes a price range for the intra-day executions and an undertaking to provide detailed trade-level information on request.
Positive
- Trades executed under a Rule 10b5-1 plan, indicating pre-authorization and reducing concerns about opportunistic timing
- Reporting person retains material indirect ownership (68,985 Class A shares) via CBC Co Pty Limited as trustee
Negative
- Aggregate insider dispositions of 7,665 Class A shares on 09/17/2025, reducing the reporting person’s stake
- Multiple intra-day executions across price ranges up to $176.72 may be viewed by some investors as a liquidity-driven reduction in holdings
Insights
TL;DR: Insider sales followed a pre-established 10b5-1 plan; holdings remain material but sales reduce immediate insider stake.
The transactions were executed pursuant to an established Rule 10b5-1 plan, which generally mitigates concerns about opportunistic timing because trades are pre-authorized. The form discloses that the shares are held indirectly through a trustee structure, indicating continued centralized control of a material stake. From a governance perspective, documented plan-based sales are routine for senior executives and large holders, though investors may note the absolute reduction in beneficial shares.
TL;DR: Aggregate insider selling of 7,665 shares is notable in size but appears procedural under a trading plan; interpret as neutral-to-mildly negative signal.
The filing reports six dispositions with weighted-average tranche prices between approximately $171.39 and $176.72, totaling 7,665 shares sold. While the trades were executed under a 10b5-1 plan, which reduces informational timing concerns, the sales materially reduce the reporting person’s immediate indirect holdings to 68,985 shares. For investors, the sales are a liquidity event for the insider rather than a disclosed company performance issue.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,328 | $172.1199 | $229K |
| Sale | Class A Common Stock | 950 | $174.6516 | $166K |
| Sale | Class A Common Stock | 50 | $176.72 | $9K |
| Sale | Class A Common Stock | 1,400 | $172.9027 | $242K |
| Sale | Class A Common Stock | 3,737 | $173.8876 | $650K |
| Sale | Class A Common Stock | 200 | $175.7449 | $35K |
Footnotes (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 $171.39 to $172.35. 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 $174.42 to $175.05. 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 $172.40 to $173.39. 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 $173.42 to $174.41. 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 $175.47 to $176.21. 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.
