Atlassian co-CEOs adopt new 10b5-1 trading plans
Atlassian Corporation Plc CREWa leading provider of team collaboration and productivity software, today announced that Scott Farquhar and Mike Cannon-Brookes, co-CEOs, co-founders and principals of Atlassian, have each adopted new trading in shares in February 2022 in accordance with the guidelines specified in Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended, and Atlassian’s policies regarding stock trading.
These pre-arranged trading plans were adopted in order to allow Mr. Farquhar and Mr. Cannon-Brookes to sell a portion of their Atlassian shares over time as part of their long-term individual asset diversification and liquidity strategies. . Using these new trading plans, Mr. Farquhar and Mr. Cannon-Brookes will spread their stock trades over a period of one year from the expiration of their current trading plans in June 2022 to reduce the impact on the market on a given day. All sales of shares under Mr. Farquhar’s and Mr. Cannon-Brookes’ trading plans are subject to volume limits, pursuant to Rule 144, which limits the number of shares that may be sold during for a period of three months.
In aggregate, Mr. Farquhar and Mr. Cannon-Brookes currently hold approximately 109.44 million Class B common shares and 381,836 Class A common shares, representing approximately 43.08% of the Class B common shares and A outstanding of Atlassian, taken together, and approximately 87.91% of the voting rights. Under the terms of the new trading plans, Mr. Farquhar and Mr. Cannon-Brookes each intend to sell up to approximately 2.16 million shares of Class B common stock (those shares being converted into Class B common stock). A before the sale). If Mr. Farquhar and Mr. Cannon-Brookes complete all anticipated sales under their current and new trading plans, they would continue to collectively own approximately 105.40 million shares of Class B common stock, which would represent approximately 41 .35% of Atlassian’s outstanding Class B and Class B shares. A ordinary shares, taken together, and approximately 87.19% of the voting rights (assuming no further issuances, redemptions, sales or conversions of Atlassian’s share capital). Each Class B common share is entitled to ten votes and each Class A common share is entitled to one vote.
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