Atlassian Co-Founder to Sell $700 Million in Shares

Scott Farquhar plans to sell nearly four million Atlassian shares as Mike Cannon-Brookes takes financial control of the company.

Updated on Nov. 10, 2026 in Remote Work

Atlassian Co-Founder to Sell $700 Million in Shares

Live Poll

Do you trust large tech companies to act in the interests of their workers?

Atlassian co-founder Scott Farquhar has filed with the US Securities and Exchange Commission to sell 3,939,500 shares worth more than $700 million. The sales will be spread out to limit the effect on the market.

Why it matters

The filing comes as Mike Cannon-Brookes takes financial control of Atlassian, a shift that follows a period of change at the company. Farquhar remains a board member and significant shareholder.

Atlassian shares fell more than 17 per cent on Thursday to US$151 before closing at US$154.90 on Monday. Cannon-Brookes cut 1,600 jobs in March, including 480 in Australia, and had bought $361 million in shares one month before the proposed sale.

The players

Scott Farquhar

Scott Farquhar is an Australian technology entrepreneur and co-founder of Atlassian, the software company he established in 2002 with Mike Cannon-Brookes.

Mike Cannon-Brookes

Mike Cannon-Brookes is an Australian technology executive and co-founder of Atlassian who is now taking financial control of the company.

The details

Farquhar said the proceeds will support The Skip Foundation's work on climate and the environment. Since Atlassian's founding in 2002, both co-founders have held equal control of the company.

March 2026: Cannon-Brookes cut 1,600 Atlassian jobs, including 480 in Australia.
October 2026: Cannon-Brookes bought $361 million in Atlassian shares.
Thursday before 9 November 2026: Atlassian shares dropped more than 17 per cent to US$151.
9 November 2026: Farquhar's share sale was announced.

Market Landscape

Atlassian is a US-listed company with Australian roots, so its executive share sales are disclosed through SEC filings that also shape how investors read its leadership changes. The sale comes as the company restructures under new financial control, a shift that will be tracked alongside its share price performance.

Shareholders and employees may be affected by the change in Atlassian's financial control and the job cuts already made. Those with Atlassian shares should watch the stock price as the spread-out sales progress.

The takeaway

Leadership and share ownership changes at major companies can signal shifts in strategy, so keeping track of SEC filings is useful for anyone holding or following a stock.