Atlassian Co-Founder Cannon-Brookes Holds 51.5M Shares

TL;DR

**Atlassian co-founder Michael Cannon-Brookes still owns over 51 million shares, showing strong insider conviction.**

AI Summary

Michael Cannon-Brookes, co-founder of Atlassian Corporation, filed an amended SC 13G/A on February 9, 2024, disclosing his beneficial ownership of 51,523,685 shares of Class A Common Stock as of December 31, 2023. This filing, an Amendment No. 8, indicates a significant, stable ownership stake by a key insider. For investors, this signals continued confidence from a founder, which can be a positive indicator for the stock's long-term stability and strategic direction.

Why It Matters

This filing shows that Atlassian co-founder Michael Cannon-Brookes maintains a substantial ownership stake, which can reassure investors about insider confidence and long-term commitment to the company's success.

Risk Assessment

Risk Level: low — The filing indicates a stable, significant insider ownership, which generally reduces risk by aligning management's interests with shareholders.

Analyst Insight

A smart investor would view this stable, significant insider ownership as a positive signal, suggesting confidence from a key founder, which could support a long-term hold strategy for Atlassian stock.

Key Numbers

• 51,523,685 — Shares Beneficially Owned (Represents Michael Cannon-Brookes's significant stake in Atlassian Class A Common Stock.)
• 049468 101 — CUSIP Number (Identifies Atlassian Corporation's Class A Common Stock.)

Key Players & Entities

• Michael Cannon-Brookes (person) — co-founder and reporting person for Atlassian Corp
• Atlassian Corporation (company) — the issuer of the Class A Common Stock
• 51,523,685 (dollar_amount) — number of shares beneficially owned by Michael Cannon-Brookes
• December 31, 2023 (date) — date of event requiring the filing
• February 9, 2024 (date) — date the SC 13G/A was filed

Forward-Looking Statements

• Michael Cannon-Brookes will maintain a significant ownership stake in Atlassian, signaling continued long-term commitment. (Michael Cannon-Brookes) — high confidence, target: December 31, 2024

FAQ

Filing Documents

• atlassian-13gaforcannonxbr.htm (SC 13G/A) — 43KB
• image_2.jpg (GRAPHIC) — 0KB
• 0001666120-24-000003.txt ( ) — 45KB

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

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) (k) Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution ____

Ownership

Item 4 Ownership. (a) and (b) Amount Beneficially Owned and Percent of Class 51,523,685 shares of Class B Common Stock, representing 51,523,685 shares held of record by CBC Co Pty Ltd as trustee of the Cannon-Brookes Head Trust, which when such 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, represent approximately 24.78% of the outstanding shares of Class A Common Stock. 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 156,359,427 shares of Class B Common Stock outstanding as of December 31, 2023, plus 51,523,685 shares of Class B Common Stock beneficially owned by the reporting person. There were 156,359,427 shares of Class A Common Stock and 103,047,371 shares of Class B Common Stock outstanding as of December 31, 2023. The 51,523,685 shares of Class B Common Stock held by the reporting person represent approximately 43.41% 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 51,523,685 (ii) Shared power to vote or to direct the vote 0 (iii) Sole power to dispose or to direct the disposition of 51,523,685 (iv) Shared power to dispose or to direct the disposition of 0

Ownership of Five Percent or Less of a Class

Item 5 Ownership of Five Percent or Less of a Class. Not applicable.

Ownership of More than Five Percent on Behalf of Another Person

Item 6 Ownership of More than Five 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.

Identification and Classification of Members of the Group

Item 8 Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution of Group

Item 9 Notice of Dissolution of Group. Not applicable.

Certifications

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. Date February 9, 2024 By s Grant Reid Grant Reid Attorney in Fact for Michael Cannon-Brookes