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

Scott Farquhar, a director and 10% owner of Atlassian, converted 508,672 shares of Class B Common Stock into Class A Common Stock on October 1, 2024, according to a Form 4 filing.

Summary

• On October 1, 2024, Scott Farquhar, a director and 10% owner of Atlassian Corp, converted 508,672 shares of Class B Common Stock into Class A Common Stock.
• The conversion was executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 21, 2023, and February 14, 2024.
• The Class B Common Stock is convertible to Class A Common Stock on a one-to-one basis at any time.
• Following the transaction, Farquhar beneficially owns 508,672 shares of Class A Common Stock directly and 49,488,852 shares of Class A Common Stock indirectly through a trust.
• The shares are held by Skip Enterprises Pty Limited as trustee for the Farquhar Family Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to stock conversion, indicating a neutral sentiment.

Industry Context

This type of transaction is common among executives and major shareholders of publicly traded companies, especially when diversifying their holdings or managing personal finances, while adhering to insider trading regulations.

Stakeholder Impact

• The conversion of shares may have a minor impact on shareholders due to the change in the number of Class A shares outstanding, but the overall economic value remains the same.

Key Dates