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

Atlassian's Co-CEO, Scott Farquhar, executed multiple sales of Class A Common Stock on May 2, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 2, 2024, Scott Farquhar, Co-CEO and Co-Founder of Atlassian, sold shares of Class A Common Stock.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 21, 2023.
• The transactions involved multiple trades at varying prices throughout the day.
• A total of 8,341 shares were sold at prices ranging from $177.20 to $186.26.
• 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 317,004 shares through the 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, as it's a routine disclosure.

Industry Context

This filing is a routine disclosure of insider transactions and is common 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 sale of shares by a high-profile executive could have a minor negative impact on shareholder sentiment, although the existence of a pre-arranged trading plan mitigates this concern.

Key Dates