Atlassian cofounder Scott Farquhar plans to promote shares value round $755 million within the software program firm to assist fund his household’s philanthropy.
In the meantime, his cofounder and CEO Mike Cannon-Brookes has spent US$2m (A$2.94m) this week including to his stake.
Farquhar’s funding partnership adopted a plan on September 3 to promote as much as 3,393,500 Class A shares.
At Thursday’s Nasdaq shut of US$152.29, the total parcel could be value circa US$516.8m (A759m). It represents round 7% of his Atlassian holding.
Atlassian advised the US Securities and Trade Fee the gross sales could be unfold out till December 4, 2027 to restrict their influence in the marketplace. It described the plan as a part of Farquhar’s long-term technique for “particular person asset diversification and liquidity”.
Farquhar advised the AFR that the gross sales would help the local weather and atmosphere work of Skip Basis, which he cofounded together with his spouse, Skip Capital’s Kim Jackson.
“I stay a board member and vital shareholder, with full confidence within the firm’s future,” he stated.
Each founders had cancelled earlier sale plans on February 6.
The brand new Cannon-Brookes plan permits his household belief to purchase as much as US$250 million of Atlassian inventory, capped at 2,507,500 shares, by Could 21, 2027. An SEC submitting exhibits the belief purchased 13,400 shares on November 11.
That buy places Cannon-Brookes forward of Farquhar. As just lately as September 30, the pair held similar stakes of 47.3 million shares apiece. Most had been Class B shares, carrying 10 votes every, giving every founder 42.84% of the vote, retain majority management collectively.
Farquhar stepped down as co-CEO in August 2024, leaving Cannon-Brookes to run the enterprise they began in Sydney in 2002. He stayed on the board and took a particular adviser function. On the time, he stated he wished extra time together with his younger household and to mentor different tech CEOs.
In March 2025, he succeeded Robyn Denholm as chair of the Tech Council of Australia. Two months later he turned chair of Pledge 1%, the motion he helped begin to encourage tech corporations to provide 1% of their fairness, income, merchandise or employees time to charity.
