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TEAM insider Cannon-Brookes disposes 7,665 Class A shares via 10b5-1 plan

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

Rhea-AI Filing Summary

Michael Cannon-Brookes, CEO, Co-Founder and director of Atlassian Corporation (TEAM), reported multiple sales of Class A common stock on 09/16/2025 under a Rule 10b5-1 trading plan adopted February 20, 2025. The Form 4 lists five dispositions totaling 7,665 shares sold in separate executions at weighted-average prices ranging from about $171.95 to $175.52. Shares are held indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. The filing was signed on 09/17/2025 by an attorney-in-fact.

Positive

  • Transactions executed under a Rule 10b5-1 plan, indicating pre-planned sales and procedural compliance
  • Clear disclosure of indirect ownership via CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust
  • Filing signed and dated by attorney-in-fact, indicating formal execution and certification

Negative

  • Insider sold 7,665 Class A shares, reducing indirect holdings (reported post-transaction balances down to 76,650 shares)
  • Multiple daily trades—while disclosed—represent a reduction in stake by a >10% owner and executive

Insights

TL;DR: Insider sales under a pre-established 10b5-1 plan; modest share reduction unlikely to signal new information.

The reported dispositions total 7,665 Class A shares executed across multiple trades at weighted-average prices between $171.95 and $175.52. Transactions were made pursuant to a Rule 10b5-1 plan adopted February 20, 2025, which typically indicates pre-planned sales rather than opportunistic moves based on nonpublic information. Ownership remains indirect via a trustee for the Cannon-Brookes Head Trust. For investors, the filing confirms proper disclosure and routine liquidity by a significant insider.

TL;DR: Disclosure aligns with governance best practices; transactions executed via attorney-in-fact and documented precisely.

The Form 4 identifies the reporting person as a director, CEO, and >10% owner and notes that sales were effected under a documented 10b5-1 plan, with price ranges and an undertaking to provide detailed trade-level information if requested. Indirect ownership through a trustee is clearly stated and the form is manually signed by an authorized representative. These elements support transparency and compliance with Section 16 reporting obligations.

Insider Cannon-Brookes Michael
Role CEO, Co-Founder
Sold 7,665 shs ($1.33M)
Type Security Shares Price Value
Sale Class A Common Stock 582 $175.5248 $102K
Sale Class A Common Stock 1,976 $171.9541 $340K
Sale Class A Common Stock 1,676 $174.7387 $293K
Sale Class A Common Stock 2,166 $173.9032 $377K
Sale Class A Common Stock 1,265 $172.8074 $219K
Holdings After Transaction: Class A Common Stock — 83,733 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 $175.34 to $175.92. 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 $171.30 to $172.29. 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 $174.34 to $175.33. 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. This transaction was executed in multiple trades during the day at prices ranging from $173.34 to $174.33. 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. This transaction was executed in multiple trades during the day at prices ranging from $172.30 to $173.26. 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).
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)
09/16/2025
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 09/16/2025 S(1) 582 D $175.5248(2) 83,733 I See Footnote(3)
Class A Common Stock 09/16/2025 S(1) 1,976 D $171.9541(4) 81,757 I See Footnote(3)
Class A Common Stock 09/16/2025 S(1) 1,676 D $174.7387(5) 80,081 I See Footnote(3)
Class A Common Stock 09/16/2025 S(1) 2,166 D $173.9032(6) 77,915 I See Footnote(3)
Class A Common Stock 09/16/2025 S(1) 1,265 D $172.8074(7) 76,650 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 $175.34 to $175.92. 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 $171.30 to $172.29. 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.
5. This transaction was executed in multiple trades during the day at prices ranging from $174.34 to $175.33. 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.
6. This transaction was executed in multiple trades during the day at prices ranging from $173.34 to $174.33. 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.
7. This transaction was executed in multiple trades during the day at prices ranging from $172.30 to $173.26. 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 /Drew Parkes, Attorney-in-Fact for Cannon-Brookes Michael 09/17/2025
** 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 report on Form 4 for TEAM?

He reported five dispositions of Class A common stock on 09/16/2025 executed under a Rule 10b5-1 plan; total shares sold were 7,665.

At what prices were the TEAM shares sold by the insider?

Weighted-average prices for the reported trades ranged from about $171.95 to $175.52, with specific trade ranges disclosed in the form.

How are the remaining TEAM shares held by Cannon-Brookes after these sales?

The remaining shares are reported as indirectly held through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, with the lowest reported post-transaction balance shown as 76,650 shares.

Was the insider trading plan adopted before these sales?

Yes. The Form 4 states the trades were effected pursuant to a Rule 10b5-1 plan adopted on February 20, 2025.

Who signed the Form 4 filing for Michael Cannon-Brookes?

The form was signed on 09/17/2025 by Drew Parkes, Attorney-in-Fact for Michael Cannon-Brookes.