Form 4: Atlassian Co-Founder Sells Shares Under 10b5-1 Plan

Atlassian co-founder and 10% owner Scott Farquhar sold 7,665 shares of Class A Common Stock for approximately $1.31 million through a pre-arranged 10b5-1 trading plan.

Summary

• Scott Farquhar, a Director and 10% Owner of Atlassian Corp (TEAM), reported the sale of Class A Common Stock.
• A total of 7,665 shares were disposed of on September 3, 2025, across four separate transactions.
• The sales were executed at weighted-average prices ranging from $170.5754 to $173.22 per share.
• The total approximate value of the shares sold is $1,312,101.57.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted by Mr. Farquhar on February 12, 2025.
• Following these transactions, Mr. Farquhar indirectly beneficially owns 145,635 shares of Class A Common Stock through Farquhar Investment Partnership No. 2.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While it's an insider sale, the execution under a pre-arranged 10b5-1 plan mitigates negative interpretations, suggesting a routine liquidity or diversification event rather than a signal of negative company prospects.

Positives

• The transactions were executed under a Rule 10b5-1 trading plan, indicating pre-planning and reducing concerns about opportunistic insider trading.

Negatives

• A director and 10% owner selling shares can sometimes be perceived negatively by the market, even if pre-planned.

Risks

• No specific new risks were identified in this Form 4 filing beyond the general market perception of insider selling.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

Insider sales, particularly by founders or key executives, are common for diversification or liquidity purposes. The use of a 10b5-1 plan is a standard practice to manage such sales in compliance with SEC regulations, indicating a pre-scheduled transaction rather than a reaction to immediate, non-public information.

Comparison to Industry Standards

• The use of a Rule 10b5-1 trading plan for insider sales is a widely accepted corporate governance practice, aligning with industry standards for transparency and mitigating concerns of insider trading. Many executives at technology companies like Microsoft, Apple, and Google utilize similar plans for their equity compensation and holdings.

Related Party Transactions

• The shares are indirectly held by Farquhar Investment Partnership No. 2, indicating a related entity is involved in the beneficial ownership.

Stakeholder Impact

• Shareholders may observe the sale by a significant insider, but the pre-planned nature via a 10b5-1 plan typically reduces concerns about the company's immediate prospects.
• Employees are unlikely to be directly impacted by this routine insider transaction.

Key Dates

Keywords

Atlassian, TEAM, Scott Farquhar, Insider Trading, Form 4, 10b5-1 Plan, Stock Sale, Director, 10% Owner