Atlassian employees have been exercising their share options in the lead up to a highly anticipated stock exchange listing.
Executives have been tight-lipped about a potential float, but the company is widely expected to be worth more than a billion dollars after listing on either the NYSE or NASDAQ.
Atlassian was founded by Sydneysiders Mike Cannon-Brookes and Scott Farquhar in 2001 on a $10,000 credit card.
Cannon-Brookes and Farquhar each own 39 per cent of the company in ordinary voting shares, after a $US60 million deal with venture fund Accel in 2010, deals with senior executives and three rounds of employee share offers.
Here’s how shares are distributed currently:
Atlassian shares are split into ordinary, restricted and preference shares currently. Ordinary shares and some preference shares confer voting rights.
Company president Jay Simons bought 0.19 per cent of Atlassian in ordinary shares at the end of 2013, while chairman Doug Burgum spent $2 million on 0.22 per cent in non-voting preference shares when he joined the company in August 2012.
Accel owns a total of 13.21 per cent of Atlassian in a combination of voting and non-voting preference shares. That allows Accel to control just over 10 per cent of votes, while the co-founders jointly control about 88 per cent of votes.
Directors Jay Parikh and Enrique Salem, as well as employees purchasing shares through Atlassian’s employee share offers, receive restricted shares.
In total, restricted shares accounted for 4.57 per cent of the company as of 28 January. Atlassian reported in December that employees could hold up to 16.1 per cent of the company if all existing stock options were exercised.