Form 4: Atlassian Co-CEO Scott Farquhar Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Atlassian's Co-CEO, Scott Farquhar, executed multiple sales of Class A Common Stock on August 27, 2024, under 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 27, 2024.
- The transactions were executed under a Rule 10b5-1 trading plan adopted on February 14, 2024.
- The sales were conducted in multiple trades at varying prices.
- A total of 917 shares were sold at a weighted-average price of $166.4259.
- An additional 1,742 shares were sold at a weighted-average price of $165.2321.
- Furthermore, 5,289 shares were sold at a weighted-average price of $164.3859.
- Following these transactions, Farquhar directly owns 189,835 shares and indirectly owns 182,804 shares through the Farquhar Family Trust.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports stock sales under a pre-arranged trading plan, which is a common and legal practice.
Industry Context
Sales by executives are a normal part of corporate governance. It is important to note that the sales were executed under a pre-arranged 10b5-1 trading plan, which is a common practice to avoid accusations of insider trading.
Stakeholder Impact
- The share sales could have a minor impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 02/14/2024 | Date of adoption of the Rule 10b5-1 trading plan |
| 08/27/2024 | Date of the reported transactions (share sales) |
| 08/28/2024 | Date of the signature on the Form 4 filing |
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