Form 4: Atlassian Co-CEO Scott Farquhar Sells Shares Under 10b5-1 Trading Plan

Atlassian's Co-CEO and Co-Founder, Scott Farquhar, executed sales of Class A Common Stock on May 21, 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 May 21, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
• A total of 2,856 shares were sold at a weighted-average price of $178.9265, with prices ranging from $178.71 to $179.43.
• An additional 5,385 shares were sold at a weighted-average price of $178.1944, with prices ranging from $177.71 to $178.70.
• Following the transactions, Farquhar directly owns no shares, but indirectly owns 215,256 shares and 209,871 shares through the Farquhar Family Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. The sales are pre-planned under a 10b5-1 trading plan, so the sentiment is neutral.

Industry Context

Sales by executives are a normal part of corporate governance. The fact that these sales were executed under a 10b5-1 plan suggests they were pre-planned and not based on any inside information at the time of the sales.

Stakeholder Impact

• The sale of shares by a high-profile executive could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this.

Key Dates