TEAM Form 4: Michael Cannon-Brookes disposes 7,665 Class A shares at ~$162–$166
Rhea-AI Filing Summary
Michael Cannon-Brookes, CEO and co-founder of Atlassian Corp (TEAM), reported multiple sales of Class A common stock on 09/26/2025 executed pursuant to a Rule 10b5-1 trading plan adopted February 20, 2025. The Form 4 lists six separate sale entries executed that day at weighted-average prices ranging from $162.0356 to $166.5759 (individual price ranges provided in footnotes). The reported dispositions total 7,665 shares sold across the transactions. Post-transaction beneficial ownership is reported indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, with the last reported holding shown as 15,330 shares indirectly owned. The filing is signed by an attorney-in-fact on behalf of the reporting person.
Positive
- Transactions were executed under a Rule 10b5-1 trading plan, which provides pre-established compliance documentation.
- Weighted-average prices and price ranges are disclosed in footnotes, offering transparency on execution prices.
Negative
- A total of 7,665 Class A shares were sold on a single day, representing a material disposition by a principal insider.
- Post-transaction beneficial holdings decreased to as low as 15,330 shares indirectly, per the last line reported.
Insights
TL;DR: Insider sold 7,665 TEAM shares under a pre-established 10b5-1 plan; sales were executed at mid-$160s per share.
The trades are routine dispositions under a documented trading plan, with multiple executions aggregated and reported with weighted-average prices. The filing discloses that shares remain held indirectly via a trust, indicating ongoing indirect ownership. For investors, the transaction documents liquidity being taken by a major shareholder but provides no new operational or financial information about Atlassian itself.
TL;DR: Use of a 10b5-1 plan demonstrates compliance with insider trading rules while effecting significant share sales.
The report explicitly states the sales were effected pursuant to a Rule 10b5-1 plan adopted earlier in the year, which supports procedural compliance and reduces concerns about timing related to nonpublic information. The filings identify indirect ownership through a trustee, clarifying beneficial ownership structure. No departures from governance norms or unusual reporting patterns are evident in the document.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 3,170 | $165.5215 | $525K |
| Sale | Class A Common Stock | 450 | $162.0356 | $73K |
| Sale | Class A Common Stock | 2,018 | $166.5759 | $336K |
| Sale | Class A Common Stock | 1,600 | $164.3144 | $263K |
| Sale | Class A Common Stock | 50 | $167.14 | $8K |
| Sale | Class A Common Stock | 377 | $163.5758 | $62K |
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 $165.00 to $165.97. 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 $161.66 to $162.40. 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 $166.02 to $166.92. 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. This transaction was executed in multiple trades during the day at prices ranging from $163.98 to $164.93. 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 $162.92 to $163.87. 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.
