Form 4: Atlassian Co-CEO Scott Farquhar Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Atlassian's Co-CEO, Scott Farquhar, executed multiple sales of Class A Common Stock on March 12, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Scott Farquhar, Co-CEO and Co-Founder of Atlassian, reported the sale of Class A Common Stock on March 12, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on February 21, 2023.
- A total of 8,241 shares were sold in multiple transactions at varying prices.
- The weighted average sale prices ranged from $214.2856 to $217.2092.
- Following the reported transactions, Farquhar directly owns no shares, but indirectly owns between 98,892 and 105,287 shares through the Farquhar Family Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information.
Key Dates
| Date | Description |
|---|---|
| February 21, 2023 | Date of adoption of Rule 10b5-1 trading plan. |
| March 12, 2024 | Date of the reported transactions (share sales). |
| March 13, 2024 | Date of signature of the Form 4 filing. |
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