Form 4: Atlassian Co-Founder Scott Farquhar Sells Over 7,600 Shares Under Pre-Arranged Trading Plan
Insider Transaction Report
Atlassian Corp Director and 10% Owner Scott Farquhar sold 7,665 shares of Class A Common Stock on June 10, 2025, as part of a pre-scheduled Rule 10b5-1 trading plan.
Summary
- Scott Farquhar, a Director and 10% Owner of Atlassian Corp (TEAM), executed multiple sales of Class A Common Stock on June 10, 2025.
- A total of 7,665 shares were disposed of across six separate transactions.
- The sales were conducted at weighted-average prices ranging from $209.7677 to $215.1029 per share.
- These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Farquhar on February 12, 2025.
- Following these transactions, Mr. Farquhar's indirect beneficial ownership of Class A Common Stock, held by Farquhar Investment Partnership No. 2, stands at 99,645 shares.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the stock sales were pre-planned under a Rule 10b5-1 trading plan, which is a common practice for insiders to manage their equity holdings without implying a negative outlook on the company's future performance.
Positives
- The transactions were executed under a Rule 10b5-1 trading plan, which indicates the sales were pre-scheduled and not based on new, material non-public information, reducing concerns about opportunistic insider selling.
Negatives
- The sale represents a reduction in direct insider ownership, which can sometimes be perceived as a negative signal by investors, although mitigated by the pre-planned nature of the sale.
Industry Context
This filing is a routine disclosure of insider stock transactions and does not provide broader industry context or trends. It reflects an individual's portfolio management rather than a strategic company announcement.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Insider Trading Plan Adoption | The transaction was conducted under a Rule 10b5-1 trading plan, adopted on February 12, 2025, which is a corporate governance mechanism allowing insiders to sell shares at a predetermined time or price to avoid accusations of trading on inside information. | 02/12/2025 | Enhances transparency and reduces the perception of opportunistic insider trading, aligning with best practices for corporate governance regarding insider stock transactions. |
Related Party Transactions
- The shares are indirectly held by Farquhar Investment Partnership No. 2, indicating a related entity through which the reporting person holds beneficial ownership.
Stakeholder Impact
- Shareholders: The sale reduces the direct ownership stake of a key founder and director, but the impact is mitigated by the pre-planned nature of the transaction, which suggests it is not a reaction to adverse company developments.
Key Dates
| Date | Description |
|---|---|
| 02/12/2025 | Date Rule 10b5-1 trading plan was adopted by the Reporting Person. |
| 06/10/2025 | Date of the reported stock transactions. |
| 06/11/2025 | Date the Form 4 was signed and filed. |
Keywords
Atlassian, TEAM, Scott Farquhar, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Director, 10% Owner, Software, Technology
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