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TEAM Form 4: Michael Cannon-Brookes disposes of 7,665 Class A shares

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Michael Cannon-Brookes, CEO and co-founder of Atlassian (TEAM), reported multiple sales of Class A common stock executed on 08/08/2025 under a Rule 10b5-1 trading plan adopted February 20, 2025. The Form 4 lists nine sale entries that together dispose of 7,665 shares in multiple trades at reported prices and weighted averages, with per-lot prices and ranges shown in the footnotes.

The filing shows indirect ownership held through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. After the reported transactions the filing lists 275,940 shares beneficially owned indirectly, and the reporting person confirms willingness to provide trade-level details upon request.

Positive

  • Transactions executed under a Rule 10b5-1 trading plan, indicating pre-established compliance with insider-trading rules
  • Detailed footnotes and undertakings to provide full trade-level information to the SEC, issuer, or security holders on request
  • Beneficial ownership is clearly identified as held indirectly via CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust

Negative

  • Reported disposals total 7,665 Class A shares across multiple trades on 08/08/2025, reducing indirect holdings to 275,940 shares
  • Sales executed at varying prices (per-footnote ranges), which may be interpreted by some investors as a reduction in insider holdings

Insights

TL;DR: Insider sales executed under a pre-established 10b5-1 plan; modest reduction in indirect holdings to 275,940 shares.

The Form 4 documents nine sale transactions on 08/08/2025 by Michael Cannon-Brookes executed pursuant to a Rule 10b5-1 trading plan adopted February 20, 2025. The declared sales total 7,665 Class A shares across multiple trades with weighted-average prices reported per lot. The holdings are held indirectly via CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. This is a routine disclosure of liquidity activity under a trading plan with explicit footnotes offering trade-level transparency upon request.

TL;DR: Disclosure shows compliance with structured trading plan and transparent footnotes; ownership remains concentrated via an indirect trust.

The filing highlights governance and compliance elements: the sales were effected under a documented 10b5-1 plan and the reporting person provides undertakings to supply full transaction details if requested. The Form also clarifies the nature of indirect beneficial ownership (CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust). While the filing reports multiple disposals, it also demonstrates formal adherence to insider-trading controls and clear beneficial-ownership disclosure.

Insider Cannon-Brookes Michael
Role CEO, Co-Founder
Sold 7,665 shs ($1.31M)
Type Security Shares Price Value
Sale Class A Common Stock 50 $176.05 $9K
Sale Class A Common Stock 1,000 $171.88 $172K
Sale Class A Common Stock 1,250 $169.1091 $211K
Sale Class A Common Stock 916 $168.1045 $154K
Sale Class A Common Stock 252 $175.3504 $44K
Sale Class A Common Stock 977 $170.8784 $167K
Sale Class A Common Stock 650 $173.9385 $113K
Sale Class A Common Stock 1,295 $169.8367 $220K
Sale Class A Common Stock 1,275 $173.1111 $221K
Holdings After Transaction: Class A Common Stock — 283,555 shares (Indirect, See Footnote)
Footnotes (1)
  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 $172.60 to $173.55. 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 $171.43 to $172.42. 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 $168.42 to $169.39. 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 $167.37 to $168.36. 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 $174.91 to $175.73. 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 $170.43 to $171.32. 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 $173.60 to $174.30. 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 $169.42 to $170.41. 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.
Form 4 Insider Transactions: What Each Field Means →
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)
08/08/2025
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 08/08/2025 S(1) 50 D $176.05 283,555 I See Footnote(2)
Class A Common Stock 08/08/2025 S(1) 1,000 D $171.88(3) 282,555 I See Footnote(2)
Class A Common Stock 08/08/2025 S(1) 1,250 D $169.1091(4) 281,305 I See Footnote(2)
Class A Common Stock 08/08/2025 S(1) 916 D $168.1045(5) 280,389 I See Footnote(2)
Class A Common Stock 08/08/2025 S(1) 252 D $175.3504(6) 280,137 I See Footnote(2)
Class A Common Stock 08/08/2025 S(1) 977 D $170.8784(7) 279,160 I See Footnote(2)
Class A Common Stock 08/08/2025 S(1) 650 D $173.9385(8) 278,510 I See Footnote(2)
Class A Common Stock 08/08/2025 S(1) 1,295 D $169.8367(9) 277,215 I See Footnote(2)
Class A Common Stock 08/08/2025 S(1) 1,275 D $173.1111(10) 275,940 I See Footnote(2)
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. Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
3. This transaction was executed in multiple trades during the day at prices ranging from $171.43 to $172.42. 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.
4. This transaction was executed in multiple trades during the day at prices ranging from $168.42 to $169.39. 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.
5. This transaction was executed in multiple trades during the day at prices ranging from $167.37 to $168.36. 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 $174.91 to $175.73. 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.
7. This transaction was executed in multiple trades during the day at prices ranging from $170.43 to $171.32. 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.
8. This transaction was executed in multiple trades during the day at prices ranging from $173.60 to $174.30. 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.
9. This transaction was executed in multiple trades during the day at prices ranging from $169.42 to $170.41. 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.
10. This transaction was executed in multiple trades during the day at prices ranging from $172.60 to $173.55. 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 08/11/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Michael Cannon-Brookes report on Form 4 for TEAM?

The Form 4 reports multiple sales of Class A common stock totaling 7,665 shares executed on 08/08/2025 under a Rule 10b5-1 trading plan.

Were the trades part of a 10b5-1 plan for TEAM insiders?

Yes. The filing states the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 20, 2025.

How many TEAM shares does Cannon-Brookes beneficially own after these transactions?

Following the reported transactions the Form 4 lists 275,940 Class A shares beneficially owned indirectly.

At what prices were the TEAM shares sold?

The Form 4 shows per-lot weighted-average prices and footnote price ranges; reported prices and ranges in the filing span approximately $167.37 to $176.05.

How is Cannon-Brookes' ownership of TEAM structured?

The filing states shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, indicating indirect beneficial ownership.