Form 4: Atlassian Co-CEO Scott Farquhar Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Atlassian's Co-CEO and Co-Founder, Scott Farquhar, executed multiple sales of Class A Common Stock on July 19, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Scott Farquhar, Co-CEO and Co-Founder of Atlassian, sold shares of Class A Common Stock on July 19, 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.
- Farquhar sold 300 shares at a weighted-average price of $176.7667, 3,188 shares at a weighted-average price of $175.4356, and 4,460 shares at a weighted-average price of $176.1998.
- Following the reported transactions, Farquhar directly owns no shares, but indirectly owns 397,400 to 405,048 shares through the Farquhar Family Trust.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to stock sales by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions and is a common practice for executives of publicly traded companies. The use of a 10b5-1 trading plan allows insiders to sell shares over a period of time without being accused of trading on non-public information.
Stakeholder Impact
- The share sales by a high-profile executive like Scott Farquhar could potentially create short-term uncertainty among shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/14/2024 | Date of adoption of Rule 10b5-1 trading plan. |
| 07/19/2024 | Date of the reported transactions (share sales). |
| 07/22/2024 | Date of signature on the Form 4 filing. |
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