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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.