Atlassian Co-Founder Plans to Sell $760m in Shares

Mike Cannon-Brookes plans to buy about US$250m of Atlassian stock while co-founder Scott Farquhar plans to sell about $760m under a trading arrangement.

Updated on Nov. 12, 2026 in Corporate Finance

Atlassian Co-Founder Plans to Sell $760m in Shares

Atlassian CEO Mike Cannon-Brookes plans to purchase about US$250m of Atlassian stock within six months, according to an SEC filing. Co-founder Scott Farquhar plans to sell about $760m of his shares under a Rule 10b5-1 trading arrangement.

Why it matters

The transactions mean Cannon-Brookes will hold a larger Atlassian shareholding than Farquhar for the first time in 25 years. Share sales had been suspended in February amid concerns about artificial intelligence threatening Atlassian's viability.

An SEC filing discloses a planned US$250m stock purchase by Cannon-Brookes and a $760m sale by Farquhar under a Rule 10b5-1 arrangement. Atlassian shares fell more than 15% after the latest quarterly results, and the share price is now level with its 1 January value.

The players

Atlassian

Atlassian is an Australian software company known for collaboration and project-management tools such as Jira and Confluence.

Mike Cannon-Brookes

Mike Cannon-Brookes is an Australian entrepreneur and co-founder of Atlassian who serves as its chief executive.

Scott Farquhar

Scott Farquhar is an Australian entrepreneur who co-founded Atlassian with Cannon-Brookes and departed the co-CEO role in 2024.

The details

The stock purchases and sales will unfold in a series of small transactions. Farquhar's sales will be spread out until the plan's expiration date to reduce market impact on any given day.

February 2026: Atlassian share sales suspended amid concerns about AI threatening the company's viability.
Within the next six months: Cannon-Brookes plans to purchase about US$250m of Atlassian stock.
Friday, before publication: Atlassian shares fell more than 15% after quarterly results were announced.

Corporate Finance Context

Pre-scheduled sales under Rule 10b5-1 arrangements are the mechanism used here to spread Farquhar's disposals across the plan's term. The structure lets insiders diversify holdings while limiting the appearance of trades timed to company news.

Shareholders in Atlassian may see the stock's direction influenced by the timing of the planned purchases and sales over the next six months. Investors tracking insider activity can follow subsequent SEC filings to confirm how the planned transactions are executed.

The takeaway

Insider trading plans signal intent but not outcome, so readers should watch subsequent filings rather than the initial announcement. Changes in ownership at the top of a listed company can also shift influence over strategic decisions.