Form 4: Atlassian Co-CEO Scott Farquhar Converts and Disposes of Class B Common Stock Under 10b5-1 Plan

Atlassian's Co-CEO, Scott Farquhar, converted and disposed of 514,788 shares of Class B Common Stock into Class A Common Stock on March 28, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On March 28, 2024, Scott Farquhar, Co-CEO and Co-Founder of Atlassian, converted 514,788 shares of Class B Common Stock into Class A Common Stock.
• The transaction was executed under a Rule 10b5-1 trading plan adopted on February 21, 2023, and February 14, 2024.
• The converted shares are held by Skip Enterprises Pty Limited as trustee for the Farquhar Family Trust.
• Following the transaction, Farquhar beneficially owns 514,788 shares of Class A Common Stock indirectly through a trust.
• He also indirectly owns 50,506,196 derivative securities (Class B Common Stock) through the same trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment.

Industry Context

The filing reflects routine transactions by a company executive under a pre-established trading plan, which is a common practice among corporate insiders to diversify their holdings and avoid accusations of insider trading.

Stakeholder Impact

• The transaction may have a minor impact on shareholders due to the conversion and potential sale of shares, but the pre-arranged trading plan mitigates concerns about insider trading.

Key Dates