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Form 4 filed 07/01/2025: Atlassian Corporation (TEAM) Co-Founder, CEO, Director and 10% owner Michael Cannon-Brookes converted 490,560 Class B shares into Class A shares (Transaction Code C). The Class B shares were held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. The conversion was executed in connection with sales to be effected under a Rule 10b5-1 trading plan adopted on 02/20/2025.

Following the transaction, Cannon-Brookes鈥� reported holdings are:

• Class A common stock: 490,560 shares (indirect)
• Class B common stock (convertible one-for-one with no expiration): 48,024,933 shares (indirect)

No price was paid for the conversion (exercise price $0.00). The filing signals preparation for future open-market sales while complying with Section 16 reporting obligations and the updated Rule 10b5-1 affirmative-defense conditions.

Morgan Stanley Finance LLC, guaranteed by Morgan Stanley (NYSE: MS), is marketing 鈥淲orst-of RTY & SPX Callable Jump Notes鈥� maturing 5 Aug 2030. The notes are linked to the Russell 2000 (RTY) and the S&P 500 (SPX) and offer 100 % participation in any positive performance of the worst-performing index, subject to the issuer鈥檚 right to call.

Early-redemption mechanism: starting 5 Aug 2026 and monthly thereafter (48 dates), the issuer will call the notes if a proprietary risk-neutral model indicates it is economic to do so. Investors receive a fixed 鈥渏ump鈥� payment that begins at $1,120 (12 % over par) and rises by $10 every month to $1,590 (59 % over par) by July 2030.

At maturity (if never called) investors receive: 鈥� par plus 100 % upside on the worst performer, capped only by the 59 % maximum shown in the hypothetical table; 鈥� full principal protection鈥攅ven if either index falls 100 %, payment is still $1,000. The notes pay no periodic coupons.

Key economics: issue price $1,000; estimated value $961.40 (approximately 3.9 % below par, reflecting structuring and hedging costs). CUSIP 61778NDQ1. The securities will not be exchange-listed; liquidity will depend on Morgan Stanley鈥檚 secondary market.

Principal risks detailed in the FWP include: call risk (upside cut off), no interest income, credit risk of Morgan Stanley, small-cap exposure via RTY, and potential adverse pricing in secondary trading. Investors should consult the full preliminary pricing supplement and tax discussion before investing.

Classover Holdings, Inc. (KIDZW) has called a virtual special meeting for July 18, 2025 to seek stockholder approval for two pivotal capital-structure actions.

Proposal 1 鈥� 鈥淣asdaq Proposal鈥�: authorizes the issuance of Class B common stock above the 19.99% threshold required by Nasdaq rules in connection with (i) a $400 million Equity Purchase Facility Agreement (EPFA) with Solana Strategic Holdings LLC and (ii) up to $500 million of senior secured convertible notes under a May 30, 2025 Securities Purchase Agreement. Both agreements allow issuance below the Nasdaq 鈥淢inimum Price鈥� and could trigger a change of control, hence the need for shareholder consent.

Proposal 2 鈥� 鈥淎uthorized Share Proposal鈥�: amends the certificate of incorporation to raise authorized Class B shares from 450 million to 2 billion. The board says the additional capacity will (1) cover all shares issuable under the EPFA and note conversions and (2) support future financing, equity compensation and strategic M&A.

Voting dynamics: CEO & Chair Hui Luo owns all 6.54 million Class A shares (25 votes each) plus 522.8 k Class B shares, giving management roughly 91% of total voting power. A Voting Agreement obligates Luo to vote 鈥淔OR鈥� both items, effectively guaranteeing passage.

Capital & structural implications:

• The EPFA allows discounted share sales at 95% of the lowest VWAP over the prior three trading days, incentivising rapid resale by the investor.
• The notes are senior, secured by all company assets (including crypto holdings) and prohibit cash dividends while outstanding.
• If approved, common shareholders face potentially massive dilution and a decline in per-share voting and economic interests.

Strategic rationale & risks: Proceeds back a 鈥淪olana-centric鈥� digital-asset treasury strategy that includes buying, staking and validator operations. The proxy enumerates extensive risks: crypto price volatility, potential classification of SOL as a security, 1940 Act 鈥渋nvestment company鈥� issues, custody & cyber-security exposure, restrictive debt covenants and dilution. Failure to obtain approval would cap issuances at 19.99%, limit access to capital, and force repeated shareholder meetings.

Board recommendation: vote FOR both proposals.