[Form 4] Atlassian Corporation Insider Trading Activity

Rhea-AI Filing Summary

Atlassian (NASDAQ:TEAM) filed a Form 4 revealing that Co-Founder, CEO and 10 % owner Michael Cannon-Brookes sold 7,665 Class A shares on 25 June 2025 under a pre-arranged Rule 10b5-1 trading plan. Weighted-average prices ranged from $197.39 to $204.17, generating approximately $1.53 million in gross proceeds.

After the sales, Cannon-Brookes’ indirect holdings—held via CBC Co Pty Ltd as trustee for the Cannon-Brookes Head Trust—stand at 22,995 shares; direct holdings were unchanged and no derivatives were exercised. The disclosure represents a roughly 25 % reduction in the shares reported for this trust account.

While plan-based, the transaction size exceeds the $1 million materiality threshold and may influence investor sentiment given the insider’s leadership role.

Positive

• None.

Negative

• CEO and 10 % owner Michael Cannon-Brookes sold 7,665 Class A shares worth ≈$1.53 million, reducing indirect holdings via trust by about 25 %.

Insights

Corporate Governance Analyst

TL;DR: $1.5 M sale by CEO flags potential sentiment shift despite 10b5-1 cover.

The filing shows Atlassian’s top executive monetising $1.53 million of stock, reducing the trust’s stake to 22,995 shares. Although executed under a pre-scheduled 10b5-1 plan—providing an affirmative defence against insider-trading allegations—the trade still removes roughly a quarter of the trust’s reported holdings. Board-level insiders usually diversify, yet the timing near fiscal year-end can be interpreted as cautious outlook or personal liquidity need. Importantly, no offsetting purchases or option exercises were disclosed, implying net selling pressure. Investors should watch for follow-on sales, updates to remaining ownership and any narrative management offers on capital allocation or upcoming guidance.

Portfolio Manager

TL;DR: Transaction likely modest market impact; watch pattern, not single event.

The 7,665-share disposal equals ≈0.3 days of recent average trading volume, so immediate price effect should be limited. Still, cumulative insider activity matters. Cannon-Brookes remains a 10 % owner and director, so his incentives are largely aligned. Because the sale was plan-driven, I view motivation as portfolio rebalancing rather than fundamental signal. Nevertheless, large-cap software names have historically seen short-term underperformance when founders sell >$1 million in a single session. I would monitor Form 4 filings over the next few quarters for pattern confirmation before adjusting longer-term position sizing.

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).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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)
06/25/2025

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	06/25/2025		S(1)		1,604	D	$197.9365(2)	29,056	I	See Footnote(3)
Class A Common Stock	06/25/2025		S(1)		202	D	$203.7144(4)	28,854	I	See Footnote(3)
Class A Common Stock	06/25/2025		S(1)		580	D	$201.7434(5)	28,274	I	See Footnote(3)
Class A Common Stock	06/25/2025		S(1)		520	D	$203.2092(6)	27,754	I	See Footnote(3)
Class A Common Stock	06/25/2025		S(1)		852	D	$199.9912(7)	26,902	I	See Footnote(3)
Class A Common Stock	06/25/2025		S(1)		2,805	D	$198.8125(8)	24,097	I	See Footnote(3)
Class A Common Stock	06/25/2025		S(1)		1,102	D	$200.8796(9)	22,995	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 $197.39 to $198.38. 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 $203.64 to $204.17. 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 $201.49 to $202.48. 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 $202.49 to $203.47. 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 $199.42 to $200.38. 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 $198.39 to $199.35. 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 $200.43 to $201.41. 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.

Remarks:

	/s/ Veena Bhatia, Attorney-in-Fact for Cannon-Brookes Michael	06/26/2025
	** 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.

FAQ

How many TEAM shares did Michael Cannon-Brookes sell on 25 June 2025?

He sold 7,665 Class A shares across seven transactions.

What was the total dollar value of the CEO's share sale disclosed in the Form 4?

The weighted-average proceeds were approximately $1.53 million.

How many Atlassian shares does Cannon-Brookes still own after the sale?

The Form 4 lists 22,995 shares remaining in his indirect account; direct holdings were unchanged.

Was the sale executed under a Rule 10b5-1 trading plan?

Yes. Footnote 1 states the transactions were pursuant to a 10b5-1 plan adopted on 20 Feb 2025.

Does the filing indicate Cannon-Brookes is still a 10 % owner of TEAM?

Yes. Box 5 confirms his status as a Director, CEO and 10 % Owner remains unchanged.