TEAM Form 4: Michael Cannon-Brookes disposes 7,665 Class A shares
Rhea-AI Filing Summary
Michael Cannon-Brookes, CEO, Co-Founder, Director and >10% owner of Atlassian Corporation (TEAM), reported multiple open-market sales of Class A common stock on 09/04/2025 executed pursuant to a Rule 10b5-1 trading plan adopted on 02/20/2025. The Form 4 lists five separate sale line items totaling 7,665 shares sold at weighted-average prices ranging from about $167.10 to $169.90. After the reported transactions the filing shows beneficial ownership falling to 137,970 shares held indirectly by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. The reporting attorney-in-fact signed the form on 09/05/2025. The filer states willingness to provide detailed trade-level information upon request.
Positive
- Transactions executed under a Rule 10b5-1 plan, indicating pre-established trading instructions.
- Detailed price ranges and weighted-average prices are disclosed and the filer offers to provide full trade-level information upon request.
- Form 4 signed and filed promptly (signature dated 09/05/2025), showing regulatory compliance.
Negative
- Insider sold 7,665 Class A shares on 09/04/2025, reducing beneficial ownership to 137,970 shares held indirectly.
- Reporting person is a >10% owner; insider sales may be material to perceptions of insider alignment even if executed under a 10b5-1 plan.
Insights
TL;DR: Routine insider disposition under a pre-established 10b5-1 plan; reduces holdings but follows an adopted trading plan.
The Form 4 documents five sale transactions executed on 09/04/2025 under a Rule 10b5-1 plan adopted 02/20/2025. Total reported disposals equal 7,665 Class A shares across multiple trades at weighted-average prices reported per line between approximately $167 and $169.90. Post-transaction beneficial ownership is reported as 137,970 shares held indirectly. This filing conveys compliance with Section 16 reporting and an explicit 10b5-1 defense; no derivative transactions or other compensatory events are disclosed.
TL;DR: Disclosure is consistent and specific; sales are tied to a documented 10b5-1 plan and include undertakings to provide trade details.
The report identifies the reporting person as a CEO, director and >10% owner and specifies that transactions were effected pursuant to a 10b5-1 trading plan. The filing provides weighted-average prices and explains the intraday price ranges for each line item, plus an explicit willingness to supply full trade-level details on request. The signature by an attorney-in-fact is included, and no amendments or derivative positions are reported. Material governance points are disclosure completeness and plan adherence; the filing does not state motives or other corporate actions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 2,855 | $167.1015 | $477K |
| Sale | Class A Common Stock | 2,587 | $168.0956 | $435K |
| Sale | Class A Common Stock | 823 | $169.3346 | $139K |
| Sale | Class A Common Stock | 1,100 | $166.2947 | $183K |
| Sale | Class A Common Stock | 300 | $169.9002 | $51K |
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 $166.67 to $167.66. 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. 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 $167.67 to $168.63. 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 $168.70 to $169.66. 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. This transaction was executed in multiple trades during the day at prices ranging from $165.65 to $166.64. 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 $169.73 to $170.25. 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.
