TEAM director sold Class A stock under 10b5-1 plan
Rhea-AI Filing Summary
Michael Cannon-Brookes, Atlassian director and 10% owner, reported three dispositions of Class A common stock on 10/09/2025 executed under a Rule 10b5-1 trading plan adopted on 02/20/2025. The Form 4 shows sales in multiple trades at prices ranging from $147.65 to $150.58, with weighted-average prices reported for each block.
The filing lists successive reductions in shares beneficially owned indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust: ownership totals reported after the three transactions are 443,670, 438,355 and 436,905 shares respectively. The Form is signed by an attorney-in-fact and includes standard execution detail and footnote commitments to provide trade-level pricing on request.
Positive
- Transactions executed under a Rule 10b5-1 plan, reducing concerns about opportunistic trading
- Clear disclosure of price ranges and weighted-average prices with an undertaking to provide trade-level details on request
- Filing signed and submitted properly (attorney-in-fact signature present)
Negative
- Indirect beneficial ownership was reduced across the reported trades (reported holdings fell from 443,670 to 436,905 shares)
- Sales by a 10% owner and director can attract investor attention even when executed under a 10b5-1 plan
Insights
Insider sales followed a pre-established 10b5-1 plan, reducing indirect holdings modestly.
The trades were executed under a Rule 10b5-1 plan adopted on 02/20/2025, which provides an affirmative defense against insider trading claims when properly structured and followed. That procedural detail helps separate these sales from opportunistic, ad-hoc insider disposals.
Key dependencies include the plan terms and any blackout or trading-window constraints; monitor any future filings for additional plan-based activity or amendments within the coming months.
Three blocks of Class A stock were sold across a $147.65–$150.58 intraday price range.
The Form 4 discloses three dispositions executed on 10/09/2025 with weighted-average prices reported per block. Sales were done in multiple trades, and the reporting person offered to provide detailed trade-level prices and quantities on request.
Market implications are limited given the absence of option exercises or derivative activity; investors may watch subsequent Form 4s for any pattern of additional planned sales over the next quarter.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 900 | $150.0661 | $135K |
| Sale | Class A Common Stock | 5,315 | $148.1166 | $787K |
| Sale | Class A Common Stock | 1,450 | $149.1599 | $216K |
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 $149.65 to $150.58. 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 $147.65 to $148.62. 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 $148.65 to $149.56. 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.
