[Form 4] Atlassian Corporation Insider Trading Activity

Rhea-AI Filing Summary

Form 4 discloses that Atlassian Corporation (ticker TEAM) Co-Founder, Co-CEO, Director and 10% owner Michael Cannon-Brookes sold a total of 7,665 Class A common shares on 17 June 2025 under a Rule 10b5-1 trading plan adopted 20 Feb 2025. The sales were executed in four tranches at weighted-average prices ranging from $198.59 to $201.58 per share.

Following the transactions, Cannon-Brookes’ indirect holdings—held via CBC Co Pty Ltd as trustee for the Cannon-Brookes Head Trust—declined from 67,835 shares to 61,320 shares. No derivative securities were reported. All transactions were routine open-market sales; the form indicates that detailed trade-level pricing data is available upon SEC request.

No additional compensation, option exercises, or corporate events were cited in the filing. Apart from the modest reduction in ownership, there is no immediate operational or financial impact disclosed for Atlassian.

Positive

• Sales executed under a pre-arranged Rule 10b5-1 plan, supporting transparency and reducing perception of opportunistic trading.

Negative

• CEO, Director and 10% owner disposed of 7,665 shares, slightly lowering insider ownership and potentially viewed as a mild negative sentiment signal.

Insights

Securities Analyst

TL;DR: CEO sold 7,665 TEAM shares via 10b5-1 plan; modest size, neutral signal.

The filing shows open-market sales worth roughly US$1.54 million, assuming the weighted-average prices reported. Given Atlassian’s US$60 billion-plus market capitalization and Cannon-Brookes’ status as a multi-billion-dollar shareholder, the divestiture is immaterial to capital structure and control. Use of a pre-arranged 10b5-1 plan mitigates concerns over timing. Insider sales can raise sentiment questions, but the scale (<1% of his indirect stake disclosed and an even smaller fraction of total beneficial ownership) suggests portfolio diversification rather than a negative view on fundamentals. Overall impact on valuation or near-term trading dynamics is negligible.

Corporate Governance Expert

TL;DR: Routine, pre-planned insider sale; governance risk unchanged.

From a governance standpoint, the key points are transparency and adherence to Rule 10b5-1. The plan’s adoption date precedes the sale by nearly four months, aligning with SEC guidelines aimed at preventing opportunistic trading. No red flags—such as clustered insider selling or significant ownership shifts—are present. Remaining indirect holdings exceed 61 k shares, and Cannon-Brookes retains his 10% owner status. Consequently, board influence and voting power remain effectively intact. I classify the filing as informational, not impactful.

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)
06/17/2025

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	06/17/2025		S(1)		1,150	D	$201.5827(2)	67,835	I	See Footnote(3)
Class A Common Stock	06/17/2025		S(1)		2,550	D	$200.576(4)	65,285	I	See Footnote(3)
Class A Common Stock	06/17/2025		S(1)		1,559	D	$199.6398(5)	63,726	I	See Footnote(3)
Class A Common Stock	06/17/2025		S(1)		2,406	D	$198.5904(6)	61,320	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 $201.29 to $202.07. 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 $200.17 to $201.13. 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 $199.14 to $200.13. 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 $198.14 to $199.12. 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	06/18/2025
	** 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 Atlassian (TEAM) shares did Michael Cannon-Brookes sell on 17 June 2025?

7,665 Class A common shares were sold in four transactions.

What price range were the TEAM shares sold at?

Weighted-average prices ranged between $198.59 and $201.58 per share.

Does Michael Cannon-Brookes still own TEAM shares after the sale?

Yes, he indirectly owns 61,320 Class A shares through CBC Co Pty Ltd trustee.

Was the insider sale conducted under a 10b5-1 trading plan?

Yes. The plan was adopted on 20 February 2025 and covers the reported transactions.

Did the Form 4 disclose any option exercises or derivative trades?

No. No derivative securities were reported in Table II.