Atlassian Co-CEOs Adopt 10b5-1 Trading Plans
May 05 2016 - 4:06PM
Atlassian Corporation Plc (NASDAQ:TEAM), a leading provider of team
collaboration and productivity software, today announced that in
February 2016, Scott Farquhar and Mike Cannon-Brookes each adopted
stock trading plans in accordance with guidelines specified under
Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended,
and the policies of Atlassian regarding stock
transactions.
Both Scott and Mike are Co-Founders, directors of Atlassian, and
serve as Atlassian’s Co-CEOs.
These pre-arranged trading plans were adopted in order to allow
Scott and Mike to sell a portion of their Atlassian stock over time
as part of their long-term strategies for individual asset
diversification and liquidity. Using these trading plans, they
will diversify their investment portfolios and spread stock trades
out over a period of a year from the time the sale restrictions on
their shares end in June 2016 to reduce market impact on any given
day. All sales of shares under Scott’s and Mike’s trading plans are
subject to volume limitations, pursuant to Rule 144, which
limits the amount of shares that can be sold in any three-month
period. Sales under these trading plans will not take place
prior to the expiration of the lock-up agreements entered into in
conjunction with Atlassian’s initial public offering.
In the aggregate, Scott and Mike currently hold approximately
139.46 million Class B ordinary shares, which
represent approximately 65% of Atlassian’s outstanding Class A
and Class B ordinary shares, taken together, and
approximately 86% of the voting power of Atlassian’s
outstanding capital stock. Under the terms of the trading
plans, Scott and Mike each intends to sell up to 2.65 million
Class B ordinary shares (with such shares converting into Class
A ordinary shares upon sale). If Scott and Mike complete
all the planned sales under these trading plans, they would
continue to collectively own approximately 134.16 million
Class B ordinary shares, which would represent approximately
63% of Atlassian’s outstanding Class A and Class B ordinary
shares, taken together, and approximately 83% of the voting
power of Atlassian’s outstanding capital stock (assuming no other
issuances, repurchases, sales or conversions of Atlassian’s
capital stock occur).
About Atlassian
Atlassian unleashes the potential in every team. Our
collaboration software helps teams organize, discuss and complete
shared work. Teams at more than 57,000 large and small
organizations - including Citigroup, eBay, Coca-Cola, Visa, BMW and
NASA - use Atlassian’s project tracking, content creation and
sharing, real-time communication and service management products to
work better together and deliver quality results on time. Learn
about products including JIRA Software, Confluence, HipChat,
Bitbucket and JIRA Service Desk at http://atlassian.com.
Investor Relations Contact
Ian Lee
IR@atlassian.com
Media Contact
Heather Staples
press@atlassian.com
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