Form 4: Atlassian Co-CEO Scott Farquhar Sells Class A Common Stock
SEC Form 4
Atlassian's Co-CEO, Scott Farquhar, executed multiple sales of Class A Common Stock on February 26, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On February 26, 2024, Scott Farquhar, Co-CEO and Co-Founder of Atlassian, sold shares of Class A Common Stock.
- The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
- The transactions involved multiple trades at varying prices throughout the day.
- A total of 8,241 shares were sold at prices ranging from approximately $201.84 to $207.02.
- The sales resulted in a decrease in the number of shares indirectly beneficially owned by Farquhar through the Farquhar Family Trust.
- Following the reported transactions, Farquhar indirectly beneficially owns 189,543 to 196,254 shares through a trust.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock sales by an executive. The existence of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific negative information.
Industry Context
This filing 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.
Key Dates
| Date | Description |
|---|---|
| February 21, 2023 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| February 26, 2024 | Date of the reported transactions (sale of shares) |
| February 27, 2024 | Date of the signature on the Form 4 filing |
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