Form 4: Atlassian Co-CEO Scott Farquhar Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Atlassian's Co-CEO and Co-Founder, Scott Farquhar, executed multiple sales of Class A Common Stock on August 26, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On August 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 14, 2024.
- The transactions involved multiple trades at varying prices.
- A total of 7,948 shares were sold at prices ranging from $160.77 to $165.89.
- The sales were conducted in multiple transactions at weighted-average prices of $162.8128, $164.7148, $160.77, $163.4685, and $165.3481.
- Following the reported transactions, Farquhar directly owns no shares and indirectly owns 190,752 to 198,400 shares through the Farquhar Family Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales by an executive under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.
Stakeholder Impact
- The sale of shares by a high-profile executive could have a minor short-term impact on shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 02/14/2024 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| 08/26/2024 | Date of the reported transactions (sale of shares) |
| 08/27/2024 | Date of signature for the SEC Form 4 filing |
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