Atlassian Corporation Plc - Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on September 9, 2021, reports a change in the Board of Directors and Board Committees for Atlassian Corporation Plc. The filing details the appointment of Michelle Zatlyn as a director and member of the Audit Committee, effective September 3, 2021.
Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figures disclosed relate to director compensation and related-party transactions:
- Director Compensation: Ms. Zatlyn will receive a $55,000 annual retainer and an initial annual grant of Restricted Share Units (RSUs) valued at $250,000, pro-rated for the partial year. The grant value is scheduled to increase to $265,000 at the next annual meeting.
- Related-Party Transactions: In fiscal year 2021, Cloudflare (where Ms. Zatlyn is President and COO) purchased approximately $427,000 of Atlassian products, and Atlassian purchased approximately $72,000 of Cloudflare products. In fiscal year 2022 to date, Cloudflare purchased approximately $4,700 of Atlassian products.
Material Changes
The primary material change is the expansion of the Board of Directors with the addition of Michelle Zatlyn. Consequently, the composition of the Audit Committee has been updated to include her. There are no reported changes to the company's financial position or operations in this filing.
Outlook, Risks, and Contingencies
This filing contains no management guidance, outlook, or discussion of risks and contingencies. It notes that Ms. Zatlyn's RSUs are subject to 100% accelerated vesting upon the sale of the Company. The filing confirms that transactions between Atlassian and Cloudflare were conducted at arm's length and in the ordinary course of business, with Ms. Zatlyn having no direct or indirect material interest in these specific transactions.
Key Facts for Investor Verification
- Michelle Zatlyn, co-founder and COO of Cloudflare, was appointed to Atlassian's Board and Audit Committee on September 3, 2021.
- Ms. Zatlyn's compensation includes a $55,000 retainer and RSUs valued at $250,000 (increasing to $265,000), subject to pro-rating and vesting conditions.
- Related-party transactions between Atlassian and Cloudflare totaled approximately $499,000 in fiscal 2021 and $4,700 in fiscal 2022 to date.
- This filing does not contain financial results; investors should refer to the Form 20-F filed on August 13, 2021, for fiscal year 2021 financial data.