Atlassian Co-CEOs Adopt New 10b5-1 Trading Plans
May 25 2017 - 4:10PM
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 2017 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
Messrs. Farquhar and 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, they will diversify their investment portfolios
and spread stock trades out over a period of a year from the time
their current trading plans expire in June 2017 to reduce market
impact on any given day. All sales of shares under Messrs.
Farquhar’s and 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, Messrs. Farquhar and Cannon-Brookes currently
hold approximately 133.78 million Class B ordinary shares
and 525,556 Class A ordinary shares, which
represent approximately 58.95% of Atlassian’s outstanding
Class A and Class B ordinary shares, taken together, and
approximately 92.59% of the voting power. Under the terms of the
new trading plans, Messrs. Farquhar and
Cannon-Brookes each intends to sell up to approximately
2.64 million Class B ordinary shares (with such shares converting
into Class A ordinary shares prior to sale). If Messrs.
Farquhar and Cannon-Brookes complete all the planned
sales under their current and new trading plans, they would
continue to collectively own approximately 128.87 million
Class B ordinary shares, which would represent approximately
56.56% of Atlassian’s outstanding Class A and Class B ordinary
shares, taken together, and approximately 91.97% 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 in every team. Our
collaboration software helps teams organize, discuss and complete
shared work. Teams at more than 85,000 large and small
organizations - including Citigroup, eBay, Coca-Cola, Visa, BMW and
NASA - use Atlassian’s project tracking, content creation and
sharing, real-time communication and service management products to
work better together and deliver quality results on time. Learn
more about products including JIRA Software, Confluence, HipChat,
Trello, Bitbucket and JIRA Service Desk at
https://atlassian.com.
Investor Relations Contact
Ian Lee
IR@atlassian.com
Media Contact
Paul Loeffler
press@atlassian.com
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