[SCHEDULE 13G/A] Atlassian Corporation SEC Filing

Rhea-AI Filing Summary

Michael Cannon-Brookes reports substantial beneficial ownership of Atlassian stock held through CBC Co Pty Ltd as trustee of the Cannon-Brookes Head Trust. The filing shows he beneficially owns 48,515,493 shares of Class B common stock and has sole voting and sole dispositive power over those shares.

The filing treats those Class B shares as convertible into Class A shares for percentage purposes, reporting the holding as 22.6% of the Class A equivalent based on 165,949,196 Class A and 97,030,987 Class B shares outstanding as of June 30, 2025. Each Class B share carries ten votes, and the reported position represents approximately 42.7% of the combined aggregate voting power. The filing states no shared voting or dispositive power and discloses conversion and automatic-conversion-on-transfer features of Class B shares.

Positive

• Substantial disclosed ownership: 48,515,493 Class B shares beneficially owned, providing transparency to investors
• Sole control: Reporting person has sole voting and sole dispositive power over the disclosed shares

Negative

• Concentrated voting power: The Class B shares represent approximately 42.7% of aggregate combined voting power, concentrating control in one holder
• Dual-class voting disparity: The reported 22.6% ownership percentage does not reflect the 10-for-1 voting power of Class B shares, which may understate governance influence when viewed only by percent of class

Insights

Financial Analyst

TL;DR: Large insider stake gives meaningful control but the filing is a disclosure, not a corporate-action.

The Schedule 13G/A confirms Michael Cannon-Brookes beneficially owns 48,515,493 Class B shares with sole voting and dispositive power. For ownership metrics the report treats those Class B shares as Class A equivalents, yielding 22.6% of Class A-equivalent shares, while the 10-for-1 voting structure means these shares represent ~42.7% of combined voting power. This is material for governance and control analysis because a single holder retains concentrated influence over board-level decisions. The filing itself does not disclose transactions, changes in strategy, or debt/equity moves; it is a positional disclosure relevant to shareholder voting dynamics.

Corporate Governance Expert

TL;DR: The disclosed stake and 10x voting Class B structure create concentrated voting power with clear governance implications.

The report documents sole control over 48,515,493 Class B shares held via a trustee, and notes conversion mechanics and automatic conversion on transfers. That concentration—about 42.7% of combined voting power—affects minority shareholder influence and board control. From a governance perspective, this is impactful because it signals sustained insider control under the dual-class structure. The filing is informational and does not indicate any change to governance arrangements, but it reconfirms the degree of insider voting influence.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 12)

Atlassian Corporation

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

049468101

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 049468101

1

Names of Reporting Persons

Michael Cannon-Brookes

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

AUSTRALIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 48,515,493.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 48,515,493.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

48,515,493.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

22.6 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: The shares reflected in Row 9 represent 48,515,493 shares of Class B Common Stock held of record by CBC Co Pty Ltd as trustee of the Cannon-Brookes Head Trust. The reporting person has sole voting power and sole dispositive power with respect to these shares. Each share of Class B Common Stock is convertible into one share of Class A Common Stock at any time at the option of the holder and upon the occurrence of certain other events as described in the Certificate of Incorporation of Atlassian Corporation (the "Issuer"). In addition, each share of Class B Common Stock will automatically convert into one share of Class A Common Stock upon any transfer, except for certain permitted transfers described in the Issuer's Certificate of Incorporation. The percent of class reflected in Row 11 was calculated based on 165,949,196 shares of Class A Common Stock and 97,030,987 shares of Class B Common Stock outstanding as of June 30, 2025, as reported by the Issuer to the reporting person, including the 48,515,493 shares of Class B Common Stock beneficially owned by the reporting person. The shares of Class B Common Stock held by the reporting person are treated as converted into shares of Class A Common Stock only for purposes of computing the percentage ownership of the reporting person pursuant to Rule 13d-3 of the Act. Each share of Class A Common Stock is entitled to one vote and each share of Class B Common Stock is entitled to ten votes. The percentage reported does not reflect the ten for one voting power of the Class B Common Stock. The shares of Class B Common Stock held by the reporting person represent approximately 42.7% of the aggregate combined voting power of the outstanding shares of Class A Common Stock and Class B Common Stock.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Atlassian Corporation
(b)	Address of issuer's principal executive offices: 350 Bush Street, Floor 13, San Francisco, CA, 94104
Item 2.
(a)	Name of person filing: Michael Cannon-Brookes
(b)	Address or principal business office or, if none, residence: Level 6, 341 George Street, Sydney, NSW 2000, Australia
(c)	Citizenship: Australia
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: 049468101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 48,515,493 shares of Class B Common Stock, held of record by CBC Co Pty Ltd as trustee of the Cannon-Brookes Head Trust.
(b)	Percent of class: Represents approximately 22.6% of the outstanding shares of Class A Common Stock. This assumes that beneficially owned shares are treated as converted into shares of Class A Common Stock only for purposes of computing the percentage ownership of the reporting person pursuant to Rule 13d-3 of the Act. The percentage reported does not reflect the ten for one voting power of the Class B Common Stock. The percent of class was calculated based on 165,949,196 shares of Class A Common Stock outstanding as of June 30, 2025, plus 48,515,493 shares of Class B Common Stock beneficially owned by the reporting person. There were 165,949,196 shares of Class A Common Stock and 97,030,987 shares of Class B Common Stock outstanding as of June 30, 2025. The 48,515,493 shares of Class B Common Stock held by the reporting person represent approximately 42.7% of the aggregate combined voting power of the outstanding shares of Class A Common Stock and Class B Common Stock.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 48,515,493
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 48,515,493
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Michael Cannon-Brookes

Signature:	/s/ Grant Reid
Name/Title:	Grant Reid, Attorney in Fact for Michael Cannon-Brookes
Date:	08/08/2025

FAQ

How many Atlassian (TEAM) shares does Michael Cannon-Brookes beneficially own?

He beneficially owns 48,515,493 shares of Class B common stock held of record by CBC Co Pty Ltd as trustee of the Cannon-Brookes Head Trust.

What percentage of Atlassian does that holding represent?

The filing reports the holding as 22.6% of the Class A-equivalent shares for percentage calculations and approximately 42.7% of combined voting power due to Class B voting rights.

Does Michael Cannon-Brookes have voting and dispositive power over these shares?

Yes. The filing reports sole voting power and sole dispositive power with respect to the 48,515,493 Class B shares.

How do Class B shares convert to Class A shares?

Each Class B share is convertible into one Class A share at the holder's option and will automatically convert upon transfer except for certain permitted transfers, as disclosed in the filing.

Were any shared voting rights reported?

No. The filing reports 0 shared voting power and 0 shared dispositive power for the reporting person.