Form 4: Atlassian Co-CEO Scott Farquhar Sells Class A Common Stock
SEC Form 4
Atlassian's Co-CEO and Co-Founder, Scott Farquhar, executed multiple sales of Class A Common Stock on June 10, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On June 10, 2024, Scott Farquhar, Co-CEO and Co-Founder of Atlassian, sold Class A Common Stock.
- The sales were executed under a Rule 10b5-1 trading plan adopted on February 14, 2024.
- Three separate sales occurred at weighted-average prices of $162.0734, $162.7099, and $164.0861.
- The number of shares sold in each transaction were 6,748, 1,050, and 150 respectively.
- The sales were executed in multiple trades during the day at varying prices.
- Following the reported transactions, Farquhar directly owns 104,524 shares and indirectly owns 103,324 shares through the Farquhar Family Trust.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard Form 4 filing for stock sales under a pre-arranged trading plan.
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 create short term uncertainty among shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/14/2024 | Date of adoption of Rule 10b5-1 trading plan |
| 06/10/2024 | Date of transaction (sale of shares) |
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