Why were Brian Duffy’s Atlassian (TEAM) share sales executed on May 19?

The filing states the May 19 sales were made solely to cover tax withholding obligations from the vesting and settlement of RSUs. It describes them as “sell to cover” transactions, indicating they were driven by tax requirements rather than discretionary portfolio decisions.

Atlassian (NASDAQ: TEAM) CRO sells 1,986 shares in tax-related trades

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Atlassian Corp’s Chief Revenue Officer Brian Duffy reported routine tax-related share sales. On May 19, he sold a total of 1,986 shares of Class A Common Stock in multiple open-market transactions at prices around $86.59 to $94.16. A footnote explains these trades were "sell to cover" transactions to satisfy tax withholding tied to the vesting and settlement of RSUs, rather than discretionary selling. After these sales, Duffy directly holds 238,740 Class A shares.

Insider Trade Summary

Net Seller: 1,986 shares ($174,263)

Net Sell 9 txns

Insider DUFFY BRIAN

Role Chief Revenue Officer

Sold 1,986 shs ($174K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	87	$90.2923	$8K
Sale	Class A Common Stock	34	$93.3917	$3K
Sale	Class A Common Stock	148	$89.2253	$13K
Sale	Class A Common Stock	61	$88.235	$5K
Sale	Class A Common Stock	80	$92.5293	$7K
Sale	Class A Common Stock	127	$91.379	$12K
Sale	Class A Common Stock	1,223	$86.5858	$106K
Sale	Class A Common Stock	220	$87.1729	$19K
Sale	Class A Common Stock	6	$94.1638	$564.98

Holdings After Transaction: Class A Common Stock — 238,740 shares (Direct, null)

Footnotes (1)

The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs. The sale was to satisfy tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person. This transaction was executed in multiple trades during the day at prices ranging from $94.07 to $94.33. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $89.88 to $90.87. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $92.92 to $93.89. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $88.88 to $89.87. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $87.88 to $88.87. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $91.90 to $92.87. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $90.88 to $91.84. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $85.88 to $86.88. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $86.88 to $87.87. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

Key Figures

Shares sold: 1,986 shares Highest sale price: $94.1638/share Lowest sale price: $86.5858/share +2 more

5 metrics

Shares sold 1,986 shares Total Class A shares sold on May 19 in open-market trades

Highest sale price $94.1638/share Maximum reported transaction price on May 19

Lowest sale price $86.5858/share Minimum reported transaction price on May 19

Post-transaction holdings 238,740 shares Class A Common Stock directly owned after May 19 trades

Number of sale transactions 9 trades Non-derivative open-market sales reported for May 19

Key Terms

sell to cover, RSUs, Class A Common Stock, open-market sale

4 terms

sell to cover financial

"to be funded by a "sell to cover" transaction and does not represent"

Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.

RSUs financial

"tax withholding obligations in connection with the vesting and settlement of RSUs."

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

Class A Common Stock financial

"security_title": "Class A Common Stock""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

open-market sale financial

""transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Form 4 Insider Transactions: What Each Field Means →

05/20/2026 - 05:03 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DUFFY BRIAN

(Last)

(First)

(Middle)

C/O ATLASSIAN CORPORATION

350 BUSH STREET, FLOOR 13

(Street)

SAN FRANCISCO

CALIFORNIA

94104

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Atlassian Corp [ TEAM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Revenue Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	05/19/2026		S⁽¹⁾		87	D	$90.2923⁽²⁾	238,740	D
Class A Common Stock	05/19/2026		S⁽¹⁾		34	D	$93.3917⁽³⁾	238,706	D
Class A Common Stock	05/19/2026		S⁽¹⁾		148	D	$89.2253⁽⁴⁾	238,558	D
Class A Common Stock	05/19/2026		S⁽¹⁾		61	D	$88.235⁽⁵⁾	238,497	D
Class A Common Stock	05/19/2026		S⁽¹⁾		80	D	$92.5293⁽⁶⁾	238,417	D
Class A Common Stock	05/19/2026		S⁽¹⁾		127	D	$91.379⁽⁷⁾	238,290	D
Class A Common Stock	05/19/2026		S⁽¹⁾		1,223	D	$86.5858⁽⁸⁾	237,067	D
Class A Common Stock	05/19/2026		S⁽¹⁾		220	D	$87.1729⁽⁹⁾	236,847	D
Class A Common Stock	05/19/2026		S⁽¹⁾		6	D	$94.1638⁽¹⁰⁾	236,841	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs. The sale was to satisfy tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.

2. This transaction was executed in multiple trades during the day at prices ranging from $89.88 to $90.87. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

3. This transaction was executed in multiple trades during the day at prices ranging from $92.92 to $93.89. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

4. This transaction was executed in multiple trades during the day at prices ranging from $88.88 to $89.87. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

5. This transaction was executed in multiple trades during the day at prices ranging from $87.88 to $88.87. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

6. This transaction was executed in multiple trades during the day at prices ranging from $91.90 to $92.87. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

7. This transaction was executed in multiple trades during the day at prices ranging from $90.88 to $91.84. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

8. This transaction was executed in multiple trades during the day at prices ranging from $85.88 to $86.88. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

9. This transaction was executed in multiple trades during the day at prices ranging from $86.88 to $87.87. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

10. This transaction was executed in multiple trades during the day at prices ranging from $94.07 to $94.33. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

Remarks:

	/s/ Veena Bhatia, Attorney-in-Fact for DUFFY BRIAN	05/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Atlassian (TEAM) executive Brian Duffy report on this Form 4?

Brian Duffy, Atlassian’s Chief Revenue Officer, reported selling 1,986 shares of Class A Common Stock. The transactions were open-market sales executed on May 19 to cover tax withholding from vested RSUs, according to the filing’s explanatory footnote.

How many Atlassian (TEAM) shares did Brian Duffy sell and at what prices?

Brian Duffy sold 1,986 Atlassian Class A shares across nine trades. Reported transaction prices ranged from about $86.5858 to $94.1638 per share, reflecting multiple executions throughout the trading day, as detailed in the Form 4 transaction table.

How many Atlassian (TEAM) shares does Brian Duffy hold after these transactions?

After completing the May 19 tax-related sales, Brian Duffy directly holds 238,740 shares of Atlassian Class A Common Stock. This post-transaction ownership figure is explicitly reported in the Form 4’s non-derivative ownership column.

Were Brian Duffy’s Atlassian (TEAM) stock sales part of a trading plan?

The provided content does not reference a Rule 10b5-1 trading plan. It specifically explains that the sales were executed to satisfy tax withholding obligations arising from RSU vesting, described as sell-to-cover transactions in the Form 4 footnote.