TEAM CEO Cannon-Brookes disposes 7,665 Class A shares at ~$172–$174
Rhea-AI Filing Summary
Michael Cannon-Brookes, Atlassian (TEAM) CEO and 10% owner, reported sales of Class A common stock on 09/02/2025 executed under a Rule 10b5-1 trading plan adopted February 20, 2025. The Form 4 shows four disposal transactions totaling 7,665 shares at weighted-average prices ranging roughly from $172.30 to $174.18. Following the reported transactions, the filing records 153,300 Class A shares beneficially owned indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. Each sale was executed in multiple trades during the day; the filer offers to provide detailed trade-level prices and quantities on request.
Positive
- Sales executed under a Rule 10b5-1 plan, supporting an affirmative defense and reducing concerns about opportunistic timing
- Timely Form 4 disclosure with weighted-average prices and willingness to provide trade-level detail on request
- Substantial remaining indirect ownership (153,300 Class A shares) held via CBC Co Pty Limited as trustee
Negative
- Insider disposed of 7,665 Class A shares on 09/02/2025, reducing beneficial holdings
- Multiple intra-day trades executed at varying prices between approximately $171.59 and $174.66, which could be viewed as active selling activity
Insights
TL;DR: Insider sales were executed under a pre-established 10b5-1 plan, reducing governance concerns about opportunistic timing.
The transactions were disclosed promptly on Form 4 and explicitly tied to a Rule 10b5-1 plan adopted February 20, 2025, which supports an affirmative defense against insider trading allegations. Reporting shows disposals executed in multiple trades with weighted-average prices provided; the reporting person retains material indirect ownership through a trust (153,300 shares). From a governance perspective, the use of a documented plan and timely disclosure are positive controls for transparency.
TL;DR: Insider sold 7,665 TEAM shares on 09/02/2025 at prices near $172–$174; significant residual indirect holdings remain.
The Form 4 lists four sell transactions totaling 7,665 Class A shares with weighted-average execution prices reported between approximately $171.59 and $174.66 across intra-day trades. These disposals reduced beneficial indirect holdings to 153,300 shares held via CBC Co Pty Limited as trustee. The filing is routine and factual; it provides granular price ranges and the reporting person’s willingness to provide full trade details on request, which aids market transparency but does not on its face indicate material change to ownership control.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 997 | $174.1829 | $174K |
| Sale | Class A Common Stock | 2,825 | $172.3002 | $487K |
| Sale | Class A Common Stock | 3,793 | $172.9282 | $656K |
| Sale | Class A Common Stock | 50 | $174.6357 | $9K |
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 $173.60 to $174.52. 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 $171.59 to $172.58. 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 $172.59 to $173.54. 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 $174.61 to $174.66. 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.
