Form 4: Atlassian Director Scott Farquhar Converts Class B Common Stock to Class A Under 10b5-1 Plan

Scott Farquhar, an Atlassian director, converted 373,556 shares of Class B Common Stock into Class A Common Stock on April 1, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On April 1, 2025, Scott Farquhar, a director at Atlassian Corp, converted 373,556 shares of Class B Common Stock into Class A Common Stock.
• The conversion was executed under a Rule 10b5-1 trading plan adopted on February 14, 2024.
• The shares are held by Skip Enterprises Pty Limited as trustee for the Farquhar Family Trust.
• Each share of Class B Common Stock is convertible into Class A Common Stock on a one-to-one basis at any time at the Reporting Person's election and has no expiration date.
• Following the transaction, Farquhar beneficially owns 373,556 shares of Class A Common Stock indirectly through a trust and 48,630,468 derivative securities (Class B Common Stock) indirectly through a trust.

Sentiment

Score: 7

Explanation: The document reflects a neutral event (stock conversion under a pre-existing plan) with no apparent negative implications. It's a routine transaction, hence a moderately positive sentiment.

Industry Context

This transaction is a routine execution of a pre-planned trading strategy by a company insider, which is a common practice among executives of publicly traded companies. It allows insiders to diversify their holdings while avoiding accusations of trading on non-public information.

Key Dates

Keywords

Form 4, Atlassian, Farquhar, Class B Common Stock, Class A Common Stock, 10b5-1 trading plan, Conversion, Director, Beneficial Ownership