Atlassian Corporation Plc (NASDAQ: TEAM), a leading provider of team
collaboration and productivity software, today announced that Scott
Farquhar and Mike Cannon-Brookes, co-CEOs, co-founders and directors of
Atlassian, each adopted a new stock trading plan in February 2019 in
accordance with guidelines specified under Rule 10b5-1 of the Securities
and Exchange Act of 1934, as amended, and the policies of Atlassian
regarding stock transactions.
These pre-arranged trading plans were adopted in order to allow Mr.
Farquhar and Mr. Cannon-Brookes to sell a portion of their Atlassian
stock over time as part of their long-term strategies for individual
asset diversification and liquidity. Using these new trading plans, Mr.
Farquhar and Mr. Cannon-Brookes will spread their stock trades out over
a period of a year from the time their current trading plans expire in
June 2019 to reduce market impact on any given day. All sales of shares
under Mr. Farquhar’s and Mr. Cannon-Brookes’ trading plans are subject
to volume limitations, pursuant to Rule 144, which limits the amount of
shares that can be sold in any three-month period.
In the aggregate, Mr. Farquhar and Mr. Cannon-Brookes currently hold
approximately 123.48 million Class B ordinary shares and 470,944 Class A
ordinary shares, which represent approximately 51.06% of Atlassian’s
outstanding Class B and Class A ordinary shares, taken together, and
approximately 90.48% of the voting power. Under the terms of the new
trading plans, Mr. Farquhar and Mr. Cannon-Brookes each intends to sell
up to approximately 2.44 million Class B ordinary shares (with such
shares converting into Class A ordinary shares prior to sale). If Mr.
Farquhar and Mr. Cannon-Brookes complete all the planned sales under
their current and new trading plans, they would continue to collectively
own approximately 118.92 million Class B ordinary shares, which would
represent approximately 48.98% of Atlassian’s outstanding Class B and
Class A ordinary shares, taken together, and approximately 89.81% of the
voting power (assuming no other issuances, repurchases, sales or
conversions of Atlassian’s capital stock occur). Each Class B ordinary
share is entitled to ten votes and each Class A ordinary share is
entitled to one vote.
About Atlassian
Atlassian unleashes the potential of every team. Our team collaboration
and productivity software helps teams organize, discuss and complete
shared work. Teams at more than 144,000 customers, across large and
small organizations – including General Motors, Walmart Labs, Bank of
America Merrill Lynch, Lyft, Verizon, Spotify and NASA – use Atlassian’s
project tracking, content creation and sharing, and service management
products to work better together and deliver quality results on time.
Learn more about our products, including Jira Software, Confluence,
Trello, Bitbucket, Opsgenie, Jira Service Desk, and Jira Align at https://atlassian.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190524005409/en/