Form 4: Atlassian Director Scott Farquhar Executes Stock Sales Under 10b5-1 Plan
SEC Form 4
Director Scott Farquhar sold shares of Atlassian (TEAM) Class A Common Stock on January 2, 2025, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On January 2, 2025, Scott Farquhar, a director and 10% owner of Atlassian Corp (TEAM), sold multiple blocks of Class A Common Stock.
- The sales were executed under a Rule 10b5-1 trading plan adopted on February 14, 2024.
- The transactions involved the sale of 700 shares at a weighted average price of $240.4558, 1,405 shares at $243.6048, 3,350 shares at $241.3877, 1,540 shares at $242.2575, 350 shares at $245.4646 and 603 shares at $244.3258.
- Following these transactions, Farquhar directly owns no shares but indirectly owns 476,880 shares through Skip Enterprises Pty Limited as trustee for the Farquhar Family Trust.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock sales under a pre-existing plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.
Key Dates
| Date | Description |
|---|---|
| 2024/02/14 | Date of adoption of Rule 10b5-1 trading plan |
| 2025/01/02 | Date of stock sale transactions |
| 2025/01/03 | Date of signature of the Form 4 filing |
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