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Atlassian Form 4: Brian Duffy Sells 1,945 TEAM Shares to Cover Taxes

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Atlassian insider reported routine share sales to cover taxes after RSU vesting. Brian Duffy, Chief Revenue Officer and director, reported multiple dispositions of Class A common stock on 08/19/2025. The Form 4 lists five separate sell transactions totaling 1,945 shares sold at intra-day prices ranging roughly from $165.24 to $170.01, with reported per-trade prices shown in the filing. The filing states these were "sell to cover" transactions executed solely to satisfy tax withholding obligations tied to RSU vesting and not discretionary sales. After the trades, Duffy beneficially owned 71,415 shares of Class A common stock according to the form.

Positive

  • The filing explicitly states these were sell-to-cover transactions to satisfy tax withholding on RSU vesting, indicating they were non-discretionary.
  • The report discloses intra-day price ranges and offers to provide full trade details upon request, supporting transparency.

Negative

  • The reporting person’s direct holdings decreased by 1,945 shares, from 73,207 to 71,415 shares as a result of the reported sales.

Insights

TL;DR: Routine non-discretionary sell-to-cover reduces insider holding by 1,945 shares; not likely material to valuation.

The reported transactions are explicitly described as "sell to cover" to meet tax withholding on RSU settlement, indicating they were predetermined and not an active decision to divest. Aggregate proceeds are not stated but per-share price ranges are provided in the filing. The remaining holding of 71,415 Class A shares remains substantial in absolute terms for an individual executive, suggesting continuity of alignment with shareholders. No derivative transactions or additional changes to compensation terms are reported.

TL;DR: Disclosure is timely and detailed; sale characterization supports compliance with Rule 10b5-1 defenses.

The Form 4 clearly identifies the reporting person, relationship to the issuer, and the nature of the transactions as tax-withholding related to RSU vesting. Multiple trade price ranges are disclosed with an offer to provide full trade details upon request, which supports transparency. There is no indication of policy violations, trading plan amendments, or insider-basis changes within this filing. The filing was signed by an attorney-in-fact, consistent with common practice for insiders.

Insider DUFFY BRIAN
Role Chief Revenue Officer
Sold 1,945 shs ($324K)
Type Security Shares Price Value
Sale Class A Common Stock 153 $169.5868 $26K
Sale Class A Common Stock 1,092 $166.0311 $181K
Sale Class A Common Stock 113 $168.8785 $19K
Sale Class A Common Stock 525 $166.3813 $87K
Sale Class A Common Stock 62 $167.8087 $10K
Holdings After Transaction: Class A Common Stock — 73,207 shares (Direct)
Footnotes (1)
  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 $169.27 to $170.01. 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 $165.24 to $166.23. 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 $168.26 to $169.25. 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 $166.24 to $167.23. 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 $167.24 to $168.22. 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.
Form 4 Insider Transactions: What Each Field Means →
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 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)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Revenue Officer
3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025
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 08/19/2025 S(1) 153 D $169.5868(2) 73,207 D
Class A Common Stock 08/19/2025 S(1) 1,092 D $166.0311(3) 72,115 D
Class A Common Stock 08/19/2025 S(1) 113 D $168.8785(4) 72,002 D
Class A Common Stock 08/19/2025 S(1) 525 D $166.3813(5) 71,477 D
Class A Common Stock 08/19/2025 S(1) 62 D $167.8087(6) 71,415 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
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 $169.27 to $170.01. 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 $165.24 to $166.23. 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 $168.26 to $169.25. 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 $166.24 to $167.23. 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 $167.24 to $168.22. 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 08/20/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

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

He reported multiple sell-to-cover transactions of Class A common stock on 08/19/2025 to satisfy tax withholding from RSU vesting.

How many shares did the insider sell and what were the price ranges?

The Form 4 lists a total of 1,945 shares sold with intra-day trade price ranges reported between about $165.24 and $170.01 across the transactions.

Did the filing say the sales were discretionary?

No. The filing states the sales were executed to cover tax withholding obligations and "does not represent a discretionary transaction".

What are the reporting person’s holdings after the transactions?

Following the reported sales, Brian Duffy beneficially owned 71,415 shares of Class A common stock according to the Form 4.

Who signed the Form 4 and when?

The Form 4 was signed by Veena Bhatia, Attorney-in-Fact for Brian Duffy on 08/20/2025.