Atlassian Corporation Plc (NASDAQ: TEAM), a leading provider of team
collaboration and productivity software, today announced that Scott
Farquhar and Mike Cannon-Brookes, co-CEOs, co-founders and directors of
Atlassian, each adopted a new stock trading plan in February 2018 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.
These pre-arranged trading plans were adopted in order to
allow Mr. Farquhar and Mr. Cannon-Brookes 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 new trading
plans, Mr. Farquhar and Mr. Cannon-Brookes will spread their stock
trades out over a period of a year from the time their current trading
plans expire in June 2018 to reduce market impact on any given day. All
sales of shares under Mr. Farquhar’s and Mr. Cannon-Brookes’ 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.
In the aggregate, Mr. Farquhar and Mr. Cannon-Brookes currently hold
approximately 128.53 million Class B ordinary shares and 489,430 Class A
ordinary shares, which represent approximately 54.70% of Atlassian’s
outstanding Class B and Class A ordinary shares, taken together, and
approximately 91.49% of the voting power. Under the terms of the new
trading plans, Mr. Farquhar and Mr. Cannon-Brookes each intends to sell
up to approximately 2.54 million Class B ordinary shares (with such
shares converting into Class A ordinary shares prior to sale). If Mr.
Farquhar and Mr. Cannon-Brookes complete all the planned sales under
their current and new trading plans, they would continue to collectively
own approximately 123.79 million Class B ordinary shares, which would
represent approximately 52.48% of Atlassian’s outstanding Class B and
Class A ordinary shares, taken together, and approximately 90.84% of the
voting power (assuming no other issuances, repurchases, sales or
conversions of Atlassian’s capital stock occur). Each Class B ordinary
share is entitled to ten votes and each Class A ordinary share is
entitled to one vote.
About Atlassian
Atlassian unleashes the potential of every team. Our collaboration
software helps teams organize, discuss and complete shared work. Teams
at more than 119,000 customers, across 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 more about products including
Jira Software, Confluence, Stride, Trello, Bitbucket and Jira Service
Desk at https://atlassian.com.
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Atlassian Corporation designs, develops, licenses, and maintains software and provisions software hosting services. The Companyâs products include Jira Software and Jira Work Management, Confluence for content creation and sharing, and Jira Service Management for team service, management, and support applications. The Jira Software and Jira Work Management provides a project management system that connects technical and business teams. Confluence provides a connected workspace that organizes knowledge across all teams to move work forward. Jira Service Management is a service desk product for creating and managing service experiences for a variety of service team providers, including information technology, legal, and human resources teams. The Atlassian platform is the common technology foundation for its products that drives connections between teams, information, and workflows. Its Loom platform is a video messaging platform that helps users to communicate through shareable videos.