Atlassian CEO Cannon-Brookes Sells $1.5M in TEAM Shares (Jun 24)

Atlassian (NASDAQ:TEAM) CEO, director and 10% owner Michael Cannon-Brookes disclosed six open-market sales of Class A shares on 06/24/2025 under a Rule 10b5-1 plan adopted 02/20/2025.

Rhea-AI Filing Summary

Atlassian (NASDAQ:TEAM) CEO, director and 10% owner Michael Cannon-Brookes disclosed six open-market sales of Class A shares on 06/24/2025 under a Rule 10b5-1 plan adopted 02/20/2025.

The insider sold 7,665 shares at weighted-average prices of $195.20–$200.70, generating roughly $1.5 million in proceeds. His indirect holdings via CBC Co Pty Ltd. fell from 37,425 to 30,660 shares, an ~18% reduction. No derivative transactions occurred.

The magnitude (>5% of holdings and >$1 million) makes the trade potentially material for investor sentiment, although execution through a pre-set 10b5-1 plan lessens timing concerns.

Positive

• None.

Negative

• CEO sold 7,665 shares for approximately $1.5 million, trimming indirect stake by ~18%; potential negative sentiment despite 10b5-1 plan.

Insights

Insider-Trading Analyst

CEO sells 7,665 TEAM shares ($1.5M); stake trimmed 18%—material but plan-driven.

Materiality: Proceeds exceed $1 million and reduce ownership >5%, crossing common significance thresholds. As CEO and co-founder, Cannon-Brookes’ actions carry outsized signaling power compared with typical insider trades.

Context: Sales occurred via a 10b5-1 plan, which indicates advance scheduling and may mute negative interpretation. However, investors often still view sizeable executive disposals as a soft vote of diminished near-term conviction, particularly when not offset by parallel purchases.

Key Takeaways: 1) Dollar value ~$1.5 million; 2) Remaining indirect stake 30,660 shares; 3) Liquidity window suggests systematic selling could continue. Monitor subsequent Forms 4 for pattern persistence and any offsetting acquisitions.

Portfolio Strategist

Rule-based sale limits shock, yet optics of founder cash-out may pressure sentiment.

The transaction removes roughly 0.003% of TEAM’s float, so supply impact is negligible. Nevertheless, leadership sales frequently catalyze short-term volatility as quant models flag insider momentum signals. Historically, clusters of >$1 M CEO disposals have correlated with modest under-performance over the following 1–3 months.

Risk Lens: If additional executives join in selling, narrative can shift toward valuation concerns amid slowing macro IT spend. Conversely, continued adherence to the disclosed 10b5-1 cadence could normalize flow and dilute signaling power.

Actionable Angle: Watch options skew and short interest for sentiment confirmation. Long-term thesis likely unchanged, but traders may exploit any post-filing dip for tactical entries.

Insider Trade Summary

Net Seller: 7,665 shares

Net Sell 6 txns

Insider Cannon-Brookes Michael

Role CEO, Co-Founder

Sold 7,665 shs ($1.52M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	900	$197.1785	$177K
Sale	Class A Common Stock	50	$200.70	$10K
Sale	Class A Common Stock	1,944	$198.3394	$386K
Sale	Class A Common Stock	850	$195.703	$166K
Sale	Class A Common Stock	2,844	$199.2161	$567K
Sale	Class A Common Stock	1,077	$200.3059	$216K

Holdings After Transaction: Class A Common Stock — 30,660 shares (Indirect, See Footnote)

Footnotes (7)

1. F1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2025.
2. F2. This transaction was executed in multiple trades during the day at prices ranging from $196.69 to $197.57. 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. F3. Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
4. F4. This transaction was executed in multiple trades during the day at prices ranging from $197.70 to $198.68. 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. F5. This transaction was executed in multiple trades during the day at prices ranging from $195.20 to $196.09. 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. F6. This transaction was executed in multiple trades during the day at prices ranging from $198.70 to $199.69. 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. F7. This transaction was executed in multiple trades during the day at prices ranging from $199.70 to $200.66. 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many TEAM shares did CEO Michael Cannon-Brookes sell on 06/24/2025?

He sold 7,665 Class A shares in six separate open-market transactions.

What was the total value of the shares sold by TEAM's CEO?

Gross proceeds were roughly $1.5 million, with weighted-average prices between $195.20 and $200.70.

Does the sale represent a significant portion of Cannon-Brookes' holdings in TEAM?

Yes. His indirect stake declined from 37,425 to 30,660 shares, an ~18% reduction.

Was the transaction executed under a pre-arranged trading plan?

Yes. All sales were conducted under a Rule 10b5-1 plan adopted on 02/20/2025.

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

He retains 30,660 Class A shares indirectly through CBC Co Pty Ltd.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/25/2025 - 06:01 PM Learn about SEC filing dates

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)
06/24/2025

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	06/24/2025		S(1)		900	D	$197.1785(2)	37,425	I	See Footnote(3)
Class A Common Stock	06/24/2025		S(1)		50	D	$200.7	37,375	I	See Footnote(3)
Class A Common Stock	06/24/2025		S(1)		1,944	D	$198.3394(4)	35,431	I	See Footnote(3)
Class A Common Stock	06/24/2025		S(1)		850	D	$195.703(5)	34,581	I	See Footnote(3)
Class A Common Stock	06/24/2025		S(1)		2,844	D	$199.2161(6)	31,737	I	See Footnote(3)
Class A Common Stock	06/24/2025		S(1)		1,077	D	$200.3059(7)	30,660	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 $196.69 to $197.57. 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 $197.70 to $198.68. 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 $195.20 to $196.09. 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 $198.70 to $199.69. 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 $199.70 to $200.66. 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	06/25/2025
	** 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.