SCHEDULE: Atlassian Co-Founder Farquhar Maintains Significant Stake
Beneficial Ownership Report (Schedule 13G Amendment)
Atlassian co-founder Scott Farquhar reported maintaining a 22.3% beneficial ownership of Class A Common Stock, representing 42.6% of total voting power.
Summary
- Scott Farquhar, co-founder of Atlassian Corporation, beneficially owns 48,024,933 shares of Class B Common Stock through Farquhar Investment Partnership No. 2.
- These shares represent approximately 22.3% of the outstanding Class A Common Stock, calculated assuming conversion of Class B shares into Class A shares.
- Each Class B share is convertible into one Class A share at the holder's option and upon certain events, and carries ten votes per share, while Class A shares have one vote.
- The reported 22.3% ownership percentage does not reflect the ten-for-one voting power of the Class B Common Stock.
- Farquhar's Class B shares represent approximately 42.6% of the aggregate combined voting power of Atlassian's outstanding Class A and Class B Common Stock.
- Farquhar holds sole voting power and sole dispositive power over these 48,024,933 shares.
Sentiment
Score: 5
Explanation: The filing is a routine disclosure of beneficial ownership by a co-founder, providing factual information without indicating specific operational or financial performance changes. The implications of concentrated voting power are inherent to the company's structure rather than a new development.
Positives
- Co-founder Scott Farquhar maintains a substantial ownership stake, indicating continued alignment with the company's long-term success and strategic direction.
Negatives
- The dual-class share structure grants disproportionate voting power to Class B shareholders, potentially limiting the influence of Class A shareholders on corporate decisions and governance.
Risks
- Concentrated voting power: Scott Farquhar's beneficial ownership of Class B Common Stock represents approximately 42.6% of the aggregate combined voting power, which could allow him significant control over corporate actions and potentially override the interests of other shareholders.
Future Outlook
NA
Industry Context
NA
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Disclosure of Existing Governance Structure | The filing details the company's dual-class share structure, where Class B Common Stock, primarily held by the reporting person, carries ten votes per share compared to one vote for Class A Common Stock. This structure results in Scott Farquhar holding approximately 42.6% of the aggregate combined voting power. | N/A | This governance structure concentrates significant voting control with Class B shareholders, potentially limiting the influence of Class A shareholders on major corporate decisions and strategic direction. |
Stakeholder Impact
- Shareholders: Class A shareholders may have reduced influence on corporate decisions due to the concentrated voting power held by Class B shareholders, including Scott Farquhar.
Key Dates
| Date | Description |
|---|---|
| 09/30/2025 | Date of event requiring the filing of this statement |
| 11/07/2025 | Signature date of the filing |
Keywords
Atlassian, Scott Farquhar, Schedule 13G, beneficial ownership, Class A Common Stock, Class B Common Stock, voting power, corporate governance, insider ownership
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