Atlassian Co-Founders Sell $4M in TEAM Stock in Coordinated Week-Long Dump

Both Atlassian Co-Founders Dumped Nearly 30,000 Shares in a Single Week

Scott Farquhar and Mike Cannon-Brookes, the co-founders of Atlassian (TEAM), sold a combined ~29,400 shares worth approximately $3.95 million between January 23 and January 28, 2026, according to Form 4 filings with the SEC. The transactions were executed in near-identical lot sizes on the same dates — a pattern consistent with pre-arranged 10b5-1 trading plans.

Transaction Breakdown

Scott Farquhar — Co-CEO, Director, 10%+ Owner

Farquhar sold approximately 20,033 shares for a total of ~$2.67 million across three trading days:

Date	Transactions	Shares Sold	Avg Price	Est. Value
Jan 28	5	7,665	$135.40	$1.04M
Jan 27	8	7,665	$133.40	$1.02M
Jan 23	2	4,703	$130.40	$0.61M

After these sales, Farquhar retains approximately 329,595 shares across trust structures and direct holdings. His lifetime sell total now stands at $1.27 billion across 5,387 Form 4 transactions.

Mike Cannon-Brookes — CEO, Co-Founder, 10%+ Owner

Cannon-Brookes sold approximately 9,415 shares for ~$1.28 million over two days:

Date	Transactions	Shares Sold	Avg Price	Est. Value
Jan 28	5	7,665	$135.40	$1.04M
Jan 27	5	1,750	$134.50	$0.24M

Cannon-Brookes also retains approximately 329,595 shares post-sale. His career selling total: $1.26 billion across 5,379 transactions.

The Pattern: Mirror-Image Lot Sizes

The most striking detail is the identical lot sizes on Jan 28. Both founders sold exactly 7,665 shares that day, broken into the same five transaction blocks: lots of 3,700, 445, 455, 281/280, and 2,784/2,785 shares at nearly identical weighted average prices. This level of precision is a textbook signature of coordinated Rule 10b5-1 trading plans — pre-scheduled sell programs filed in advance that remove discretionary timing from insider dispositions.

It also means the selling was not a reaction to any specific news event. These plans are typically established weeks or months before execution.

Context: What This Means for TEAM Holders

While $4 million sounds significant, it represents a tiny fraction of each founder’s holdings. At ~$135/share, Farquhar and Cannon-Brookes each still hold roughly $44.5 million in TEAM stock through their direct and trust positions alone — and that doesn’t account for additional beneficial ownership structures.

Both co-founders have been consistent sellers over the years, with lifetime totals exceeding $1.2 billion each. This week’s sales represent a continuation of a long-running liquidity program, not a sudden change in sentiment.

What to Watch

• Selling cadence: Both founders have been filing Form 4s weekly in January 2026. Watch for whether the pace continues or accelerates into February.
• Upcoming earnings: Atlassian’s next quarterly report will provide context on whether these sales preceded any material developments.
• 10b5-1 plan amendments: Any modification to the trading plans would be a more meaningful signal than the scheduled sales themselves.

Track insider activity for Scott Farquhar and Mike Cannon-Brookes on 13F Insight.