Form 4: Atlassian Director Scott Farquhar Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Director Scott Farquhar sold shares of Atlassian Corp (TEAM) on October 1, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Scott Farquhar, a director and 10% owner of Atlassian Corp, sold shares of Class A Common Stock on October 1, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on February 14, 2024.
- The transactions involved multiple sales at varying prices, with weighted-average prices ranging from $155.8838 to $162.5995.
- A total of 7,948 shares were sold, reducing the indirect holdings through the Farquhar Family Trust to 500,724 shares.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales under a pre-arranged trading plan. It doesn't convey any particularly positive or negative sentiment.
Industry Context
This 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.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market.
Key Dates
| Date | Description |
|---|---|
| 02/14/2024 | Date of adoption of Rule 10b5-1 trading plan |
| 10/01/2024 | Date of transaction (stock sale) |
| 10/02/2024 | Date of signature on the Form 4 filing |
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