Atlassian Co-CEOs Adopt New 10b5-1 Trading Plans
May 25 2018 - 4:28PM
Business Wire
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 2018 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 2018 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 128.53 million Class B ordinary shares and
489,430 Class A ordinary shares, which represent approximately
54.70% of Atlassian’s outstanding Class B and Class A ordinary
shares, taken together, and approximately 91.49% 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 2.54
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 123.79 million Class B ordinary shares, which would
represent approximately 52.48% of Atlassian’s outstanding Class B
and Class A ordinary shares, taken together, and approximately
90.84% 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
collaboration software helps teams organize, discuss and complete
shared work. Teams at more than 119,000 customers, across 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, Stride, Trello, Bitbucket and Jira Service Desk at
https://atlassian.com.
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AtlassianInvestor Relations ContactIan
LeeIR@atlassian.comorMedia ContactScott
Rubinpress@atlassian.com
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