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 March 20, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On March 20, 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 21, 2023.
- A total of 3,312 shares were sold at a weighted-average price of $196.0023, with individual trades ranging from $195.42 to $196.33.
- An additional 1,802 shares were sold at a weighted-average price of $194.0398, with individual trades ranging from $193.40 to $194.39.
- Another 3,127 shares were sold at a weighted-average price of $194.8122, with individual trades ranging from $194.42 to $195.39.
- Following these transactions, Farquhar directly owns no shares, but indirectly owns 49,446 to 54,375 shares through the Farquhar Family Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Insider sales are a common occurrence, especially among executives of publicly traded companies. The use of 10b5-1 trading plans allows insiders to sell shares at predetermined times and prices, avoiding accusations of trading on non-public information.
Stakeholder Impact
- The stock sales by a high-profile executive like Scott Farquhar could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 2023/02/21 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| 2024/03/20 | Date of the reported transactions (stock sales) |
| 2024/03/21 | Date of the signature on the Form 4 filing |
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