Michael Cannon-Brookes reduces TEAM stake to 84,315 shares after Sept. 15 sale
Rhea-AI Filing Summary
Atlassian director and co-founder Michael Cannon-Brookes sold 7,665 shares of Class A common stock on 09/15/2025 under a pre-established Rule 10b5-1 plan adopted February 20, 2025. The sales executed in multiple trades at weighted-average prices of $175.0399, $174.0083 and $175.9427, and reduced his reported indirect beneficial ownership from 88,444 shares to 84,315 shares held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. The Form 4 was signed by an attorney-in-fact on 09/16/2025 and lists Cannon-Brookes as CEO, co-founder, director and a 10% owner.
Positive
- Sale executed under a Rule 10b5-1 plan, indicating the trades were pre-planned and comply with an established trading program.
- Full disclosure of weighted-average prices and willingness to provide detailed trade-level information upon request to regulators or security holders.
Negative
- Insider disposed of 7,665 Class A shares, reducing beneficial ownership from 88,444 to 84,315 shares held indirectly.
- No purchases or offsetting acquisitions reported in this Form 4 to indicate reinvestment or increased ownership.
Insights
TL;DR: Insider sold a small block of shares under a 10b5-1 plan; no new options or derivative activity disclosed.
The filing shows standard non-derivative sales totaling 7,665 Class A shares on a single date, executed via a Rule 10b5-1 plan adopted February 20, 2025. Weighted-average prices are reported for three trade groups, and ownership is described as indirect through a trustee entity. There is no indication of open-market purchases, option exercises, or derivative transactions in this filing. For investors, this is a routine insider liquidity event documented under an established trading plan rather than an ad hoc sale.
TL;DR: Transaction was pre-planned and disclosed properly; trustee-held shares remain materially significant.
The report identifies Cannon-Brookes as a director and 10% owner and discloses that remaining shares are held indirectly by CBC Co Pty Limited as trustee for a named trust. The use of a 10b5-1 plan and provision to provide transaction-level price details on request align with disclosure best practices. The Form 4 was executed by an attorney-in-fact, which is permitted. The filing does not raise governance red flags based on the information provided.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 3,536 | $175.0399 | $619K |
| Sale | Class A Common Stock | 3,759 | $174.0083 | $654K |
| Sale | Class A Common Stock | 370 | $175.9427 | $65K |
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 $174.54 to $175.53. 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 $173.52 to $174.51. 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 $175.54 to $176.41. 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.
