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Atlassian (TEAM) Form 144 Files Planned Sale of 490,560 Shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
144

Rhea-AI Filing Summary

Atlassian Corporation (TEAM) Form 144 notice: A holder intends to sell 490,560 shares of common stock through Morgan Stanley Smith Barney, with an aggregate market value of $84,719,712 and an approximate sale date of 09/09/2025 on NASDAQ. The shares were acquired as founders shares on 07/02/2010. The filing also lists a series of prior 10b5-1 sales executed by "Farquhar Investment Partnership 2" on many dates between 06/10/2025 and 09/08/2025, each for 7,665 shares with reported gross proceeds per trade. The notice includes the required representation about absence of undisclosed material adverse information and references a trading plan/10b5-1 program where applicable.

Positive

  • Compliance with Rule 144 is documented, including broker details and representation about material information
  • Use of 10b5-1 plans for prior sales indicates systematic, prearranged disposition rather than opportunistic trading

Negative

  • Large proposed sale of 490,560 shares with an aggregate market value of $84,719,712 may increase share supply
  • Ongoing significant selling activity by Farquhar Investment Partnership 2 shown across many dates could be perceived negatively by the market

Insights

TL;DR: Large scheduled sale announced; multiple prior 10b5-1 transactions show ongoing systematic disposition.

The filing discloses a proposed sale of 490,560 shares valued at $84,719,712, scheduled for 09/09/2025, executed via Morgan Stanley Smith Barney. The shares were originally held as founders shares acquired on 07/02/2010. The document also enumerates numerous prior 10b5-1 sales by Farquhar Investment Partnership 2 of 7,665 shares each across many dates from June to early September 2025, with varying gross proceeds reported per trade. From a market perspective, a single large notice of sale and repeated daily 10b5-1 dispositions can increase supply pressure and may affect intraday liquidity, but the filing itself is a routine disclosure of intended and prior sales rather than an operational or financial disclosure about the issuer.

TL;DR: The filing documents compliance with Rule 144 and reliance on 10b5-1 plans, but signals significant insider/affiliate selling.

The notice indicates the seller holds founders shares acquired in 2010 and is using established broker execution and 10b5-1 programs for systematic sales. The repeated 10b5-1 entries and the current Form 144 suggest structured disposition rather than ad hoc sales, which supports procedural compliance. However, the size of the proposed sale (490,560 shares) is material in absolute terms and warrants attention from governance stakeholders for potential impacts on shareholder composition and perceived insider confidence. The filing contains the required legal representation about material adverse information and does not assert any undisclosed facts.

144: Filer Information

144: Issuer Information

144: Securities Information



Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold


* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.



Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

144: Remarks and Signature

Source: View Original Filing on SEC EDGAR

FAQ

What is the size and value of the proposed sale in the TEAM Form 144?

The Form 144 shows a proposed sale of 490,560 shares of common stock with an aggregate market value of $84,719,712 and an approximate sale date of 09/09/2025.

Who is executing the proposed sale and on which exchange for TEAM?

The filing lists Morgan Stanley Smith Barney LLC Executive Financial Services as the broker and NASDAQ as the named securities exchange.

When were the shares being sold originally acquired according to the filing?

The shares were acquired as founders shares on 07/02/2010 according to the acquisition table in the Form 144.

Does the Form 144 include a representation about undisclosed material information?

Yes; the signer represents that they do not know any material adverse information about the issuer that has not been publicly disclosed and references reliance on any 10b5-1 plan adoption date where applicable.