TEAM, Anyplace/SAN FRANCISCO–(BUSINESS WIRE)–Atlassian Company Plc (NASDAQ: TEAM), a number one supplier of group collaboration and productiveness software program, at this time introduced that Scott Farquhar and Mike Cannon-Brookes, co-CEOs, co-founders and administrators of Atlassian, every adopted new inventory buying and selling plans in February 2022 in accordance with pointers specified beneath Rule 10b5-1 of the Securities and Change Act of 1934, as amended, and the insurance policies of Atlassian concerning inventory transactions.
These pre-arranged buying and selling plans had been adopted with a view to permit Mr. Farquhar and Mr. Cannon-Brookes to promote a portion of their Atlassian inventory over time as a part of their long-term methods for particular person asset diversification and liquidity. Utilizing these new buying and selling plans, Mr. Farquhar and Mr. Cannon-Brookes will unfold their inventory trades out over a interval of a yr from the time their present buying and selling plans expire in June 2022 to scale back market affect on any given day. All gross sales of shares beneath Mr. Farquhar’s and Mr. Cannon-Brookes’ buying and selling plans are topic to quantity limitations, pursuant to Rule 144, which limits the quantity of shares that may be bought in any three-month interval.
Within the mixture, Mr. Farquhar and Mr. Cannon-Brookes at present maintain roughly 109.44 million Class B strange shares and 381,836 Class A strange shares, which signify roughly 43.08% of Atlassian’s excellent Class B and Class A strange shares, taken collectively, and roughly 87.91% of the voting energy. Beneath the phrases of the brand new buying and selling plans, Mr. Farquhar and Mr. Cannon-Brookes every intends to promote as much as roughly 2.16 million Class B strange shares (with such shares changing into Class A strange shares previous to sale). If Mr. Farquhar and Mr. Cannon-Brookes full all of the deliberate gross sales beneath their present and new buying and selling plans, they might proceed to collectively personal roughly 105.40 million Class B strange shares, which might signify roughly 41.35% of Atlassian’s excellent Class B and Class A strange shares, taken collectively, and roughly 87.19% of the voting energy (assuming no different issuances, repurchases, gross sales or conversions of Atlassian’s capital inventory happen). Every Class B strange share is entitled to 10 votes and every Class A strange share is entitled to at least one vote.
Atlassian unleashes the potential of each group. Our group collaboration and productiveness software program helps groups arrange, focus on, and full shared work. Groups at greater than 225,000 clients, throughout massive and small organizations – together with Financial institution of America, Redfin, NASA, Verizon and Dropbox – use Atlassian’s venture monitoring, content material creation and sharing, and repair administration merchandise to work higher collectively and ship high quality outcomes on time. Be taught extra about our merchandise, together with Jira Software program, Confluence, Jira Service Administration, Trello, Bitbucket, and Jira Align at https://atlassian.com/.