Scott Farquhar trims TEAM stake under 10b5-1 plan, logs $1.5M proceeds
Rhea-AI Filing Summary
Atlassian Corporation (TEAM) Form 4 filing: Director and 10% owner Scott Farquhar reported five open-market sales of Class A common stock on 18 June 2025 under an established Rule 10b5-1 trading plan adopted on 12 Feb 2025.
The transactions covered 450, 1,394, 3,072, 1,992 and 757 shares, respectively, at weighted-average prices ranging from $194.50 to $198.58. In total, 7,665 shares were disposed of for gross consideration of roughly $1.5 million based on the reported averages.
All shares were held indirectly through Farquhar Investment Partnership No. 2. Following the sales, the partnership’s stake declined from 61,320 shares to 53,655 shares. No derivative securities were reported in this filing.
The sale represents a modest portion of Farquhar’s indirect holdings and was effected under a pre-scheduled plan, limiting concerns about discretionary timing.
Positive
- Executed under a Rule 10b5-1 trading plan, reducing the likelihood of opportunistic insider timing and signalling compliance with best-practice governance.
Negative
- Director and 10% owner sold 7,665 shares (~$1.5 million), representing a 12.5% reduction of his indirect holding and adding modest insider-selling pressure.
Insights
TL;DR: Small, pre-planned insider sale; neutral signal for TEAM shareholders.
The filing shows Scott Farquhar reduced his indirect Class A position by 7,665 shares (~12.5% of the partnership’s stake) for about $1.5 million. Given Atlassian’s >$50 billion market value and Farquhar’s status as co-founder with significant remaining ownership, the transaction is immaterial to the equity structure. The use of a Rule 10b5-1 plan mitigates timing concerns, suggesting routine liquidity rather than a valuation call. Investors typically treat such sales as neutral unless they form part of a larger selling trend.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 450 | $198.5844 | $89K |
| Sale | Class A Common Stock | 1,394 | $197.6797 | $276K |
| Sale | Class A Common Stock | 3,072 | $195.8522 | $602K |
| Sale | Class A Common Stock | 1,992 | $196.7359 | $392K |
| Sale | Class A Common Stock | 757 | $194.4969 | $147K |
Footnotes (1)
- This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 12, 2025. This transaction was executed in multiple trades during the day at prices ranging from $198.24 to $199.22. The weighted-average price is reported above. 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. Shares are held by Farquhar Investment Partnership No. 2. This transaction was executed in multiple trades during the day at prices ranging from $197.24 to $198.23. The weighted-average price is reported above. 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 $195.24 to $196.23. The weighted-average price is reported above. 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 $196.24 to $197.21. The weighted-average price is reported above. 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 $194.03 to $195.00. The weighted-average price is reported above. 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.
