TEAM Form 4: Michael Cannon-Brookes discloses multiple sales totaling 7,665 shares
Rhea-AI Filing Summary
Atlassian (TEAM) insider sales by Michael Cannon-Brookes. The Form 4 reports multiple open-market disposals of Class A common stock on 08/13/2025 executed under a Rule 10b5-1 trading plan adopted February 20, 2025. The filing lists seven separate sale executions totaling 7,665 shares sold, with reported weighted-average prices shown per execution. After these transactions the reporting person beneficially owns 252,945 Class A shares held indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. The Form 4 is signed by an attorney-in-fact on 08/14/2025.
Positive
- Transactions executed under a Rule 10b5-1 plan, providing an affirmative defense and indicating pre-planned dispositions
- Full disclosure of indirect ownership via CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust
Negative
- Insider sold 7,665 Class A shares, reducing beneficial ownership to 252,945 shares
- Multiple sell transactions on a single day could be interpreted as a notable liquidity event despite plan-based execution
Insights
TL;DR: Multiple small open-market sales under a pre-established 10b5-1 plan, resulting in a modest reduction in indirect holdings to 252,945 shares.
The transactions are routine insider dispositions executed under a Rule 10b5-1 plan adopted on February 20, 2025, which typically aim to reduce timing-risk and demonstrate pre-planned liquidity. Seven separate sale blocks on 08/13/2025 totaled 7,665 shares, with each block reported at its weighted-average execution price. These sales reduced the reporting person’s indirect beneficial ownership to 252,945 Class A shares held via CBC Co Pty Limited as trustee. From a market-impact perspective, the sizes reported are small relative to typical institutional volumes and the filing contains no indication of material corporate events or changes to compensation or control.
TL;DR: Disclosure follows expected governance practices: use of a 10b5-1 plan and trustee-held shares are clearly reported.
The filing includes clear disclosures of the 10b5-1 plan adoption date and the indirect ownership vehicle, which supports transparency and compliance with Section 16 reporting. The reporting person checked boxes indicating director, 10% owner and officer (CEO, Co-Founder) status, and the Form 4 was executed by an attorney-in-fact. There is no indication in the filing of any extraordinary governance actions or changes to board/officer status. Overall, the filing aligns with standard insider reporting and provides the SEC-required execution and ownership detail.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 150 | $158.18 | $24K |
| Sale | Class A Common Stock | 500 | $159.694 | $80K |
| Sale | Class A Common Stock | 2,350 | $162.7275 | $382K |
| Sale | Class A Common Stock | 772 | $160.7109 | $124K |
| Sale | Class A Common Stock | 400 | $157.4642 | $63K |
| Sale | Class A Common Stock | 782 | $163.7895 | $128K |
| Sale | Class A Common Stock | 2,711 | $161.9712 | $439K |
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 $158.06 to $158.40. 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 $159.25 to $160.15. 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. This transaction was executed in multiple trades during the day at prices ranging from $162.42 to $163.39. 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 $160.25 to $161.24. 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 $156.91 to $157.90. 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 $163.42 to $164.07. 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. This transaction was executed in multiple trades during the day at prices ranging from $161.41 to $162.40. 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.
