Michael Cannon-Brookes reduces TEAM holdings to 206,955 shares via planned sales
Rhea-AI Filing Summary
Atlassian director and 10% owner Michael Cannon-Brookes sold 7,665 shares of Class A common stock on 08/21/2025 under a Rule 10b5-1 trading plan adopted on February 20, 2025. The sales were executed in multiple trades at weighted-average prices of $163.6463, $165.11 and $164.3954, and reduced his indirect holdings (held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust) to 206,955 shares following the transactions. The Form 4 was signed by an attorney-in-fact on 08/22/2025. All transactions are reported as indirect holdings and the filer offers to provide trade-by-trade details upon request.
Positive
- Transactions executed under a Rule 10b5-1 trading plan, indicating pre-planned sales
- Detailed weighted-average prices disclosed and commitment to provide trade-level data on request
- Holdings are held via trustee (CBC Co Pty Limited), consistent with structured estate/tax arrangements
Negative
- Insider sold 7,665 shares, reducing indirect beneficial ownership to 206,955 shares
- Sales by a director and 10% owner may attract investor scrutiny despite 10b5-1 plan status
Insights
TL;DR: Routine insider sales under a pre-established 10b5-1 plan; disclosure and trustee holding add transparency.
The filing shows controlled, pre-planned disposals executed under a Rule 10b5-1 plan, which typically mitigate concerns about opportunistic timing by insiders. Ownership is held indirectly via a trustee, consistent with estate or tax planning structures. The disclosure includes weighted-average prices and the filers offer to provide detailed trade-level data, which improves transparency for investors evaluating insider activity.
TL;DR: Insider sold 7,665 shares, lowering indirect holdings to 206,955; impact appears neutral absent other material facts.
The aggregate share count sold (7,665) is modest relative to the remaining 206,955 shares reported, and the trades were executed across multiple intra-day prices. Because the sales were conducted under a documented 10b5-1 plan, they likely reflect pre-authorized liquidity rather than a new view on company fundamentals. No derivative transactions or other compensatory changes were reported in this filing.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,400 | $163.6463 | $229K |
| Sale | Class A Common Stock | 469 | $165.11 | $77K |
| Sale | Class A Common Stock | 5,796 | $164.3954 | $953K |
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 $163.02 to $164.01. 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 $165.03 to $165.21. 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 $164.02 to $165.00. 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.
