[Form 4] Atlassian Corp Insider Trading Activity

Rhea-AI Filing Summary

Atlassian insider conversion and planned sales disclosed. Director and 10% owner Farquhar Scott converted 490,560 shares of Class B common stock into Class A common stock on 10/01/2025. The conversion reflects the one-for-one convertibility of Class B into Class A and was effected in connection with sales to be executed under a Rule 10b5-1 trading plan adopted on 02/12/2025. After the reported transaction, the filing shows beneficial ownership of 490,560 Class A shares directly or indirectly through Farquhar Investment Partnership No. 2, and a total of 47,534,373 Class A shares beneficially owned following the conversion.

The Form 4 is signed by an attorney-in-fact and discloses the nature of ownership as indirect through a partnership. No exercise price or derivative consideration is reported for the converted shares because Class B converts one-for-one into Class A with no expiration.

Positive

• Conversion disclosed transparently: the Form 4 reports conversion of 490,560 Class B shares into Class A shares on 10/01/2025.
• Use of a Rule 10b5-1 plan: sales are to be effected pursuant to a trading plan adopted on 02/12/2025, indicating pre-specified disposition procedures.
• Clear ownership disclosure: post-transaction beneficial ownership of 47,534,373 Class A shares is reported and shares are held via Farquhar Investment Partnership No. 2.

Negative

• Insider share disposition planned: the conversion is linked to planned sales under a 10b5-1 plan, indicating forthcoming share sales by a director and 10% owner.
• Reduction in Class B holdings: the reporting person converted 490,560 Class B shares to Class A, reducing Class B outstanding held by the reporting person.

Insights

Securities Analyst

TL;DR: Insider converted and will sell shares under a pre-established trading plan; transaction disclosed transparently.

The filing documents a routine conversion of 490,560 Class B shares into Class A and notes the shares are to be sold pursuant to a Rule 10b5-1 plan adopted on 02/12/2025. This is a standard mechanism for insiders to monetize holdings while providing affirmative safe-harbor trade instructions. The report indicates indirect ownership via Farquhar Investment Partnership No. 2 and lists 47,534,373 Class A shares beneficially owned after the conversion. From a market-impact perspective, the size disclosed here represents a small proportion of the total reported post-transaction holdings; the Form 4 meets disclosure requirements and provides necessary identifiers for investor monitoring.

Corporate Governance Expert

TL;DR: Good governance practice in documenting conversion and 10b5-1 plan; filing clarifies indirect ownership.

The Form 4 explicitly states the conversion is tied to sales under a Rule 10b5-1 plan adopted on 02/12/2025, which supports compliance with insider trading rules. It also clarifies that the beneficial ownership is indirect through Farquhar Investment Partnership No. 2, and that Class B shares convert one-for-one with no expiration. The signature by an attorney-in-fact is noted, and the filing provides transparent disclosure of the nature and amount of shares affected.

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).

1. Name and Address of Reporting Person^*

Farquhar Scott

(Last) (First) (Middle)

C/O ATLASSIAN CORPORATION

350 BUSH STREET, FLOOR 13

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/01/2025		C		490,560	A	(1)(2)	490,560	I	See Footnote(3)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Common Stock	(2)	10/01/2025		C			490,560	(2)	(2)	Class A Common Stock	490,560	$0.00	47,534,373	I	See Footnote(3)

Explanation of Responses:

1. Represents the conversion of Class B Common Stock into Class A Common Stock held of record by the Reporting Person in connection with sales to be effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 12, 2025.

2. Each share of Class B Common Stock is convertible at any time into Class A Common Stock on a one-to-one basis at the Reporting Person's election and has no expiration date.

3. Shares are held by Farquhar Investment Partnership No. 2.

Remarks:

	/s /Drew Parkes, Attorney-in-Fact for Farquhar Scott	10/01/2025
	** 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.

FAQ

What did Farquhar Scott report on the Form 4 for TEAM?

The Form 4 reports the conversion of 490,560 Class B shares into Class A shares on 10/01/2025, with shares to be sold under a Rule 10b5-1 plan adopted on 02/12/2025.

How many Class A shares does the filing show after the transaction?

The filing shows 47,534,373 Class A shares beneficially owned following the reported transaction.

Was a price reported for the converted shares?

No price is reported because the transaction reflects a one-for-one conversion of Class B into Class A with $0.00 conversion price reported for underlying Class A in Table II.

Who holds the shares reported in the Form 4?

The shares are held indirectly by the reporting person through Farquhar Investment Partnership No. 2 as stated in the filing.

When was the Rule 10b5-1 trading plan adopted?

The filing states the Rule 10b5-1 trading plan was adopted on 02/12/2025.