TEAM Form 4: Michael Cannon-Brookes sold 7,665 shares under 10b5-1
Rhea-AI Filing Summary
Atlassian Corporation (TEAM) reported insider dispositions by Michael Cannon-Brookes on 10/10/2025. The report shows five sales executed under a Rule 10b5-1 trading plan totaling 7,665 shares of Class A common stock, reducing indirect holdings reported through CBC Co Pty Limited to 429,240 shares after the transactions. Individual trade weighted-average prices ranged from $144.8955 to $148.9011, with the largest single-day block of 4,099 shares sold at a weighted-average price of $144.8955. The transactions were effected in multiple intraday trades and were executed pursuant to a trading plan adopted on 2/20/2025.
Positive
- Transactions executed under a Rule 10b5-1 plan, indicating pre-scheduled trades
- Reporting person retains substantial indirect holdings (reported 429,240 shares after sales)
Negative
- Insider disposition of 7,665 shares could be interpreted by some investors as reduced insider ownership
- Multiple sales across intraday trades at varying weighted-average prices may attract investor attention
Insights
Insider sales were executed under a pre-established 10b5-1 plan, reducing indirect holdings.
The sales totaling 7,665 shares were reported as indirect holdings held by CBC Co Pty Limited for a trust, and the filer checked the box confirming transactions were made under a Rule 10b5-1 plan adopted on 2/20/2025. That structure signals the trades were pre-scheduled rather than opportunistic, which is a common governance mechanism to avoid perceptions of opportunistic timing.
Dependence on plan parameters and blocking windows matters; investors can monitor future Form 4s for any changes to reported holdings or new plan disclosures over the next 6-12 months.
Sale size is small relative to public float but notable for ownership change at the trust level.
The aggregate sale of 7,665 shares at weighted-average prices between $144.90 and $148.90 reduced reported indirect holdings to 429,240 shares. For a large-cap software company, this volume is unlikely to materially affect market liquidity or valuation on its own.
Market impact is limited absent further similar filings; watch subsequent weekly Form 4 filings and any disclosures affecting insider share counts over the next 1-3 months.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 750 | $146.7775 | $110K |
| Sale | Class A Common Stock | 1,016 | $147.8422 | $150K |
| Sale | Class A Common Stock | 1,350 | $145.7227 | $197K |
| Sale | Class A Common Stock | 4,099 | $144.8955 | $594K |
| Sale | Class A Common Stock | 450 | $148.9011 | $67K |
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 $146.38 to $147.31. 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 $147.39 to $148.34. 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 $145.38 to $146.27. 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 $144.36 to $145.29. 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 $148.47 to $149.34. 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.
