Scott Farquhar is cashing in $760 million of his Atlassian chips as cofounder Mike Cannon-Brookes doubles down

Résumé détaillé

At Thursday’s Nasdaq close of US$152.29, the full parcel would be worth c. US$516.8m (A$759m), representing around 7% of his Atlassian holding.

Meanwhile, his cofounder and CEO Mike Cannon-Brookes has spent US$2m (A$2.94m) this week adding to his stake.

Farquhar’s investment partnership adopted a plan on September 3 to sell up to 3,393,500 Class A shares.

At Thursday’s Nasdaq close of US$152.29, the full parcel would be worth circa US$516.8m (A759m). It represents around 7% of his Atlassian holding.

Atlassian told the US Securities and Exchange Commission the sales would be spread out until December 4, 2027 to limit their impact on the market. It described the plan as part of Farquhar’s long-term strategy for “individual asset diversification and liquidity”.

Farquhar told the AFR that the sales would support the climate and environment work of Skip Foundation, which he cofounded with his wife, Skip Capital’s Kim Jackson.

By continuing, you agree to our Terms & Conditions and Privacy Policy.

“I remain a board member and significant shareholder, with full confidence in the company’s future,” he said.

The new Cannon-Brookes plan allows his family trust to buy up to US$250 million of Atlassian stock, capped at 2,507,500 shares, by May 21, 2027. An SEC filing shows the trust bought 13,400 shares on November 11.

That purchase puts Cannon-Brookes ahead of Farquhar. As recently as September 30, the pair held identical stakes of 47.3 million shares apiece. Most were Class B shares, carrying 10 votes each, giving each founder 42.84% of the vote, retain majority control together.

Début de l'article, extrait de Startup Daily. Pour lire la suite, ouvrez l'article chez le média.