TEAM director Michael Cannon-Brookes reports 7,665-share sale under 10b5-1
Rhea-AI Filing Summary
Atlassian director and 10% owner Michael Cannon-Brookes reported multiple open-market sales of Class A common stock executed on 08/28/2025 under a Rule 10b5-1 trading plan adopted February 20, 2025. The filing lists five separate sell transactions totaling 7,665 shares at weighted-average prices ranging roughly from $175.15 to $177.59, with per-trade weighted-average prices reported and aggregated beneficial ownership after the trades shown as 168,630 shares held indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. Transactions were signed by an attorney-in-fact on 08/29/2025. The form provides execution price ranges for each lot and offers to provide detailed trade-level information on request.
Positive
- Transactions executed under a Rule 10b5-1 trading plan, which provides pre-established terms and reduces timing concerns
Negative
- Insider disposed of 7,665 Class A shares on 08/28/2025, reducing indirect beneficial ownership to 168,630 shares
Insights
TL;DR: Insider sales were executed under a pre-established 10b5-1 plan, indicating planned disposition rather than opportunistic trading.
The filing documents routine, planned disposals by a significant insider executed under a Rule 10b5-1 plan adopted February 20, 2025. The shares were held indirectly via a trustee vehicle; post-sale indirect holding stands at 168,630 Class A shares. From a governance perspective, use of a documented trading plan reduces concerns about selective disclosure or insider timing, but such sales do reduce the insider's stake. No derivative transactions or other compensatory changes were reported.
TL;DR: Reported disposals total 7,665 Class A shares across five trades at ~$173–178 per share.
The transaction detail shows five sell lots executed the same day with reported weighted-average prices per lot and provided price ranges for execution. The seller offers to supply trade-level details on request, which helps verify execution. The transactions appear to be normal-course disposals under a 10b5-1 plan; they do not include option exercises or derivative activity. Given the remaining indirect holding of 168,630 shares, the sales represent a modest reduction in beneficial ownership relative to that balance.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 2,110 | $177.0715 | $374K |
| Sale | Class A Common Stock | 2,930 | $175.8899 | $515K |
| Sale | Class A Common Stock | 1,425 | $175.1479 | $250K |
| Sale | Class A Common Stock | 400 | $173.53 | $69K |
| Sale | Class A Common Stock | 800 | $177.5863 | $142K |
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 $176.47 to $177.45. 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 $175.42 to $176.38. 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. This transaction was executed in multiple trades during the day at prices ranging from $174.42 to $175.42. 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 $173.17 to $173.92. 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 $177.47 to $177.80. 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.
