Atlassian CEO Michael Cannon-Brookes Sells 7,665 Shares for $1.5M

Atlassian (NASDAQ:TEAM) filed a Form 4 reporting that CEO, director and 10% owner Michael Cannon-Brookes sold 7,665 Class A shares on 26 Jun 2025 under a Rule 10b5-1 plan adopted 20 Feb 2025.

Rhea-AI Filing Summary

Atlassian (NASDAQ:TEAM) filed a Form 4 reporting that CEO, director and 10% owner Michael Cannon-Brookes sold 7,665 Class A shares on 26 Jun 2025 under a Rule 10b5-1 plan adopted 20 Feb 2025.

The five tranches were executed at weighted-average prices between $196.79 – $200.39, raising roughly $1.5 million in gross proceeds. Following the sale, Cannon-Brookes holds 15,330 Class A shares indirectly via CBC Co Pty Ltd as trustee for the Cannon-Brookes Head Trust.

• No derivative transactions, option exercises or new corporate events were disclosed.
• Cannon-Brookes remains a director, CEO and 10% owner.

The filing is limited to the insider transaction and does not include operational or financial updates.

Positive

• None.

Negative

• CEO & 10% owner Michael Cannon-Brookes sold 7,665 Class A shares (~$1.5 M), reducing his trust’s holdings by roughly 33%, which may pressure near-term sentiment despite 10b5-1 pre-planning.

Insights

Corporate Governance Analyst

TL;DR: Pre-planned $1.5 M share sale; limited governance signal

The transaction represents roughly one-third of the trust’s Class A stake yet remains modest relative to Cannon-Brookes’ overall equity, including super-voting Class B shares not listed here. Execution under a 10b5-1 plan reduces informational value, indicating portfolio diversification rather than a directional view on fundamentals. The retained 15,330 shares and continuing 10% owner status suggest no impending change in control. Unless accompanied by a pattern of accelerated selling or broader C-suite disposals, the governance impact is neutral.

Portfolio Manager

TL;DR: Mildly bearish sentiment, unlikely to move stock

The ~$1.5 million disposition equals under one trading day’s average volume for TEAM, limiting market impact. Price range ($196–$200) sits close to recent averages, implying no urgency. Still, insider sales—especially by a founder-CEO—often weigh on short-term sentiment. I would monitor upcoming filings for repeat sales and watch if other executives join; absent that, the sale appears routine diversification and does not alter the investment thesis.

Insider Trade Summary

Net Seller: 7,665 shares

Net Sell 5 txns

Insider Cannon-Brookes Michael

Role CEO, Co-Founder

Sold 7,665 shs ($1.52M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	1,950	$197.9957	$386K
Sale	Class A Common Stock	50	$200.39	$10K
Sale	Class A Common Stock	1,395	$199.7617	$279K
Sale	Class A Common Stock	700	$196.7882	$138K
Sale	Class A Common Stock	3,570	$198.6136	$709K

Holdings After Transaction: Class A Common Stock — 15,330 shares (Indirect, See Footnote)

Footnotes (6)

1. F1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2025.
2. F2. This transaction was executed in multiple trades during the day at prices ranging from $197.29 to $198.28. 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. F3. Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
4. F4. This transaction was executed in multiple trades during the day at prices ranging from $199.30 to $200.21. 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.
5. F5. This transaction was executed in multiple trades during the day at prices ranging from $196.25 to $197.15. 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. F6. This transaction was executed in multiple trades during the day at prices ranging from $198.30 to $199.27. 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Atlassian shares did CEO Michael Cannon-Brookes sell on 26 June 2025?

He sold 7,665 Class A shares in five separate transactions.

What was the approximate value of the shares sold by Cannon-Brookes?

At weighted-average prices near $198, the sale totaled about $1.5 million.

How many Atlassian shares does Cannon-Brookes still own after the sale?

He now indirectly owns 15,330 Class A shares via CBC Co Pty Ltd as trustee.

Was the transaction executed under a Rule 10b5-1 trading plan?

Yes. The plan was adopted on 20 Feb 2025 and covers these sales.

Did the sale affect Cannon-Brookes’ status as a 10% owner?

No. The Form 4 still marks him as a 10% owner after the transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/27/2025 - 04:08 PM Learn about SEC filing dates

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)
06/26/2025

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	06/26/2025		S(1)		1,950	D	$197.9957(2)	21,045	I	See Footnote(3)
Class A Common Stock	06/26/2025		S(1)		50	D	$200.39	20,995	I	See Footnote(3)
Class A Common Stock	06/26/2025		S(1)		1,395	D	$199.7617(4)	19,600	I	See Footnote(3)
Class A Common Stock	06/26/2025		S(1)		700	D	$196.7882(5)	18,900	I	See Footnote(3)
Class A Common Stock	06/26/2025		S(1)		3,570	D	$198.6136(6)	15,330	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 $197.29 to $198.28. 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 $199.30 to $200.21. 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.

5. This transaction was executed in multiple trades during the day at prices ranging from $196.25 to $197.15. 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 $198.30 to $199.27. 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	06/27/2025
	** 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.