Atlassian co-founder plans stock sales worth more than A$700 million

Atlassian co-founder Scott Farquhar plans to resume a share-sale program involving stock worth more than A$700 million at the reported market value. He says the move will support a greater focus on philanthropy while he remains a board member and significant shareholder.

The planned sales cover up to 3,393,500 Class A shares over approximately a year. The value is based on a market price and is not a fixed sum already received. Company filings describe the program as part of his longer-term approach to diversifying assets and maintaining liquidity.

Farquhar said he wanted to support the Skip Foundation's work, beginning with climate and environmental challenges. He stepped down as co-chief executive in August 2024 and said his commitment to Atlassian's mission was unchanged.

Co-founder and chief executive Mike Cannon-Brookes also plans to buy shares. The reported filing sets a limit of either 2,507,500 shares or US$250 million, whichever represents the lower amount, over the next six months. That purchase plan is separate from Farquhar's sales and should not be treated as proof that all shares will pass directly between them.

Atlassian is listed on the US Nasdaq exchange. The announcement concerns the founders' personal share plans, not a new issue of company shares or a completed sale of the business.