TEAM Form 4: Gene Liu Reports Multiple Sell-to-Cover Trades on 08/14/2025
Rhea-AI Filing Summary
Gene Liu, Chief Accounting Officer of Atlassian Corporation (TEAM), reported multiple dispositions of Class A common stock on 08/14/2025. The Form 4 shows several sales executed that day to satisfy tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs). The sales were executed in multiple trades at varying prices: one group between $160.20 and $161.19, another between $164.20 and $164.94, another between $161.20 and $162.19, another between $162.20 and $163.19, and another between $163.20 and $164.19. Aggregate reported disposals appear on separate lines with resulting beneficial ownership levels reported in the Form 4. The filing is signed by an attorney-in-fact on behalf of the reporting person.
Positive
- Clear disclosure of the reason for sales (to satisfy tax withholding on vested RSUs)
- Transaction price ranges provided for each group of trades, with an undertaking to supply detailed trade information upon request
- Form filed promptly and signed by attorney-in-fact, indicating compliance with reporting rules
Negative
- Officer sold shares (multiple dispositions reported) which reduces insider holdings
- Form does not provide exact share counts per price point within each multi-trade group without requesting further detail
Insights
TL;DR: Routine sell-to-cover sales for RSU tax withholding; disclosure is compliant and timely.
The Form 4 documents non-discretionary sales by a company officer to cover tax obligations on vested RSUs. The filing provides execution price ranges for each trade group and reports the beneficial ownership following each transaction, which supports transparency and compliance with Section 16 reporting requirements. There is no indication in the filing of discretionary open-market selling beyond the stated tax-withholding purpose.
TL;DR: Multiple small sell-to-cover transactions were disclosed; impact on float and control is immaterial based on sizes shown.
The Form 4 lists several relatively small dispositions executed intra-day at prices from about $160.20 to $164.94. These sales were explicitly to satisfy tax withholding for RSU settlement, not described as voluntary liquidity events. The filing includes commitments to provide detailed trade-level information upon request, which is standard practice. Reported post-transaction beneficial ownership balances are included on each line, enabling investors to track changes in the officer's holdings.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 17 | $160.7541 | $3K |
| Sale | Class A Common Stock | 181 | $164.363 | $30K |
| Sale | Class A Common Stock | 41 | $161.8546 | $7K |
| Sale | Class A Common Stock | 195 | $162.7254 | $32K |
| Sale | Class A Common Stock | 331 | $163.6593 | $54K |
| holding | Class A Common Stock | -- | -- | -- |
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 $160.20 to $161.19. 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 $164.20 to $164.94. 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 $161.20 to $162.19. 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 $162.20 to $163.19. 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 $163.20 to $164.19. 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.
