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TEAM Form 4: CEO Executes Multiple Sales Under 10b5-1 Plan on 09/29/2025

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

Rhea-AI Filing Summary

Michael Cannon-Brookes, CEO and co-founder of Atlassian Corp (TEAM) and a 10% owner, reported multiple sales of Class A common stock executed on 09/29/2025 under a Rule 10b5-1 trading plan adopted February 20, 2025. The Form 4 shows dispositions of 512, 3,532, 1,294, and 2,327 shares at weighted-average prices of $168.259, $166.2576, $167.5119, and $165.4604, respectively. Post-transactions, reported indirect beneficial ownership is 7,665 shares held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Positive

  • Trades executed under a Rule 10b5-1 trading plan, indicating pre-planned, compliant insider sales.
  • Detailed execution disclosure with weighted-average prices and intra-day price ranges in footnotes enhances transparency.
  • Form 4 is properly signed by an attorney-in-fact, showing procedural completeness.

Negative

  • Insider sold shares (512, 3,532, 1,294, and 2,327 shares) on 09/29/2025, reducing indirect beneficial ownership.
  • Indirect holdings declined to 7,665 shares held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

Insights

TL;DR Insider sales under a pre-established Rule 10b5-1 plan reduced indirect holdings; disclosure is orderly and not an unscheduled block sale.

The Form 4 documents four separate dispositions on 09/29/2025 by Michael Cannon-Brookes under a Rule 10b5-1 plan adopted February 20, 2025. Each sale lists weighted-average execution prices and the form identifies the remaining indirect holdings (7,665 shares) held via CBC Co Pty Limited as trustee. For investors, the key elements are the use of a pre-established trading plan and detailed price ranges provided in footnotes, which increase transparency about execution timing and pricing.

TL;DR Transactions were executed pursuant to a documented 10b5-1 plan, aligning with standard insider trading compliance practices.

The filing explicitly states the trades were effected under a Rule 10b5-1 plan adopted on February 20, 2025, and provides price ranges and weighted-average prices for each tranche. Beneficial ownership is held indirectly by a trustee. The filing is procedurally complete with an attorney-in-fact signature, enhancing governance transparency. No derivative transactions or amendments are reported.

Insider Cannon-Brookes Michael
Role CEO, Co-Founder
Sold 7,665 shs ($1.28M)
Type Security Shares Price Value
Sale Class A Common Stock 512 $168.259 $86K
Sale Class A Common Stock 3,532 $166.2576 $587K
Sale Class A Common Stock 1,294 $167.5119 $217K
Sale Class A Common Stock 2,327 $165.4604 $385K
Holdings After Transaction: Class A Common Stock — 14,818 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 $168.04 to $168.42. 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 $165.99 to $166.98. 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 $167.00 to $167.98. 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 $164.98 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.
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)
09/29/2025
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 09/29/2025 S(1) 512 D $168.259(2) 14,818 I See Footnote(3)
Class A Common Stock 09/29/2025 S(1) 3,532 D $166.2576(4) 11,286 I See Footnote(3)
Class A Common Stock 09/29/2025 S(1) 1,294 D $167.5119(5) 9,992 I See Footnote(3)
Class A Common Stock 09/29/2025 S(1) 2,327 D $165.4604(6) 7,665 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 $168.04 to $168.42. 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 $165.99 to $166.98. 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 $167.00 to $167.98. 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 $164.98 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.
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 transactions did Michael Cannon-Brookes report on the Form 4 for TEAM?

He reported four dispositions on 09/29/2025 of 512, 3,532, 1,294, and 2,327 shares of Class A common stock.

Were the trades by the TEAM reporting person made under a trading plan?

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

What prices were reported for the TEAM insider sales?

Weighted-average prices reported were $168.259, $166.2576, $167.5119, and $165.4604 for the respective tranches, with footnotes listing intra-day price ranges.

How many TEAM shares does the reporting person beneficially own after the transactions?

The Form 4 reports 7,665 shares beneficially owned indirectly following the reported transactions.

Through what vehicle are the remaining TEAM shares held?

Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, as stated in the filing.