Form 4: Atlassian Co-CEO Scott Farquhar Sells Class A Common Stock
SEC Form 4
Atlassian's Co-CEO, Scott Farquhar, reports the sale of Class A Common Stock through a pre-arranged Rule 10b5-1 trading plan.
Summary
- Scott Farquhar, Co-CEO and Co-Founder of Atlassian, reported the sale of Class A Common Stock on August 23, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on February 14, 2024.
- The transactions involved multiple trades at varying prices, with weighted-average prices reported for each set of trades.
- Farquhar sold 4,300 shares at a weighted average price of $159.4314, 300 shares at $156.4507, 2,083 shares at $158.2508, 215 shares at $159.9934, and 1,050 shares at $157.4777.
- Following these transactions, Farquhar indirectly owns 198,700 to 202,348 shares of Class A Common Stock through the Farquhar Family Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. It is neutral in sentiment as it simply reports transactions.
Industry Context
This is a routine disclosure of insider trading activity. It is common for executives to sell shares under pre-arranged trading plans to avoid accusations of trading on inside information.
Stakeholder Impact
- The sale of shares by a high-profile executive could have a minor negative impact on shareholder sentiment, although the existence of a pre-arranged trading plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 02/14/2024 | Date of adoption of Rule 10b5-1 trading plan |
| 08/23/2024 | Date of transaction (sale of shares) |
| 08/26/2024 | Date of signature on the Form 4 |
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