secwatch.observer — SEC 8-K summary
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Issuer:     Atlassian Corp (TEAM)
CIK:        0001650372
Form:       8-K
Filed at:   2023-05-26T23:59:59+00:00
Accession:  0001650372-23-000030
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Atlassian co-CEOs Farquhar and Cannon-Brookes adopt new 10b5-1 plans to sell up to 2.08M shares each
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- Co-founders and co-CEOs each adopted new 10b5-1 trading plans in February 2023.
- Each plans to sell up to ~2.08M Class B shares (converting to Class A) starting after June 2023 expiration of current plans.
- They currently hold ~105.12M Class B shares, representing 40.92% of total stock and 87.35% voting power.
- After planned sales, combined ownership would drop to 39.27% of stock and 86.61% voting power (101.25M Class B shares).
- Plans are for asset diversification and liquidity; sales spread over one year to reduce market impact.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1650372/000165037223000030/0001650372-23-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1650372/000165037223000030/team-20230526.htm
  HTML page:      https://secwatch.observer/filing/0001650372-23-000030

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer