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TEAM Form 4: CEO Disposes of Class A Shares Under Preplanned Trades

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

Rhea-AI Filing Summary

Michael Cannon-Brookes, CEO and co‑founder of Atlassian (TEAM), reported multiple sales of Class A common stock on 09/30/2025 under a preexisting Rule 10b5‑1 trading plan adopted February 20, 2025. The Form 4 lists a series of dispositions executed in multiple trades at weighted‑average prices ranging roughly from $157.63 to $164.46 per share. The reporting person states shares are held by CBC Co Pty Limited as trustee for the Cannon‑Brookes Head Trust and provides undertakings to supply full trade details on request. The filing is signed by an attorney‑in‑fact on behalf of the reporting person.

Positive

  • Transactions executed under a Rule 10b5‑1 trading plan, indicating preplanned trades rather than ad hoc disposals
  • Detailed disclosure of weighted‑average execution prices and willingness to provide full transaction details, supporting regulatory transparency

Negative

  • Multiple substantial disposals by the CEO on 09/30/2025, which materially reduced reported beneficial holdings (final line shows 0.00 shares)
  • Form shows indirect holdings held in a trustee structure but does not disclose aggregate proceeds or any remaining economic interest outside the trustee

Insights

TL;DR: CEO executed scheduled sales under a 10b5‑1 plan, reducing reported beneficial holdings through multiple trades at mid‑$150s to mid‑$160s per share.

The sales are documented as Rule 10b5‑1 plan transactions, which typically indicate prearranged trading rather than opportunistic selling. The filing lists multiple discrete disposals on a single date with weighted‑average prices provided and an overall reduction in reported beneficial ownership to zero in the final line. For investors, the key facts are the use of an established trading plan and the transparency of intra‑day weighted‑average prices; the filing does not disclose total proceeds, reasons for the plan, or economic interest outside the trustee structure.

TL;DR: Insider sales occurred under an announced 10b5‑1 plan, disclosures meet Form 4 requirements and identify indirect holdings via a trustee.

The Form 4 clearly states the reporting person’s roles (Director, 10% owner, CEO) and that shares are held indirectly by a trustee, which is relevant to control and disclosure expectations. The filing includes explanatory notes about execution in multiple trades and offers to provide transaction-level data on request, which supports compliance and transparency. The form does not include additional context such as any changes to director status or other governance actions.

Insider Cannon-Brookes Michael
Role CEO, Co-Founder
Sold 7,665 shs ($1.22M)
Type Security Shares Price Value
Sale Class A Common Stock 300 $163.3633 $49K
Sale Class A Common Stock 300 $162.4647 $49K
Sale Class A Common Stock 1,647 $158.2473 $261K
Sale Class A Common Stock 350 $160.9155 $56K
Sale Class A Common Stock 1,968 $159.9265 $315K
Sale Class A Common Stock 150 $164.3467 $25K
Sale Class A Common Stock 2,950 $159.1031 $469K
Holdings After Transaction: Class A Common Stock — 7,365 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 $163.12 to $163.90. 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 $162.12 to $162.94. 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 $157.63 to $158.62. 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 $160.65 to $161.18. 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 $159.63 to $160.61. 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 $164.12 to $164.46. 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 $158.63 to $159.61. 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)
09/30/2025
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 09/30/2025 S(1) 300 D $163.3633(2) 7,365 I See Footnote(3)
Class A Common Stock 09/30/2025 S(1) 300 D $162.4647(4) 7,065 I See Footnote(3)
Class A Common Stock 09/30/2025 S(1) 1,647 D $158.2473(5) 5,418 I See Footnote(3)
Class A Common Stock 09/30/2025 S(1) 350 D $160.9155(6) 5,068 I See Footnote(3)
Class A Common Stock 09/30/2025 S(1) 1,968 D $159.9265(7) 3,100 I See Footnote(3)
Class A Common Stock 09/30/2025 S(1) 150 D $164.3467(8) 2,950 I See Footnote(3)
Class A Common Stock 09/30/2025 S(1) 2,950 D $159.1031(9) 0.00 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 $163.12 to $163.90. 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 $162.12 to $162.94. 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 $157.63 to $158.62. 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.
6. This transaction was executed in multiple trades during the day at prices ranging from $160.65 to $161.18. 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 $159.63 to $160.61. 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.
8. This transaction was executed in multiple trades during the day at prices ranging from $164.12 to $164.46. 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.
9. This transaction was executed in multiple trades during the day at prices ranging from $158.63 to $159.61. 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 09/30/2025
** 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 on 09/30/2025?

The Form 4 reports multiple sales of Class A common stock executed on 09/30/2025 under a Rule 10b5‑1 trading plan adopted on February 20, 2025.

How many shares did the reporting person sell and at what prices?

The filing lists several disposals (e.g., 300, 1,647, 1,968, 2,950 shares) with weighted‑average prices ranging from approximately $157.63 to $164.46 per share; exact per‑trade details are offered by the filer upon request.

Did the Form 4 indicate remaining beneficial ownership after the sales?

The table shows progressively reduced beneficial ownership amounts, with the final reported line showing 0.00 shares beneficially owned following the reported transaction.

Were the trades part of a prearranged plan?

Yes. The filing states the transactions were effected pursuant to a Rule 10b5‑1 trading plan adopted on February 20, 2025.

Where are the reported shares held?

The filing states shares are held by CBC Co Pty Limited as trustee for the Cannon‑Brookes Head Trust (indirect ownership).