Like I've posted in another thread, reasonable Director sale has...

Like I've posted in another thread, reasonable Director sale has nothing to panic about it, read below to give you a peace of mind.

Software juggernaut Atlassian has never paid its shareholders a dividend. And from July 1, its founders and co-CEOs Mike Cannon-Brookes and Scott Farquhar have opted to be paid the Australian statutory minimum wage of $74,653.28.

They're not included in Atlassian's bonus plan.Neither dividends, salaries nor bonuses explain the trophy homes, other investments, political donations or personal philanthropy. No, their fungible wealth has come from selling shares. Which Cannon-Brookes and Farquhar do. A lot.

At the December 2015 float, they held a total of 69,732,090 shares apiece. On June 30 this year, they held a mere 61,742,279 each. And as they told the SEC in May, they both intend to sell 2.44 million shares in FY20. Progressively, so as not to affect the share price.
That's 46,923 shares a week, or 9385 a trading day. And at Atlassian's average share price so far this year of $US130.43, that's $US318 million ($464 million), each. Minus capital gains tax, naturally.For Cannon-Brookes and Farquhar, 2.44 million shares sold in a year is nothing unusual.

They've been selling at more or less that rate (and always in lockstep) ever since Atlassian listed in December 2015. And as its share price has increased, so has their take.Between the December 2015 float and June 30, 2016, they sold 190,223 shares each. In FY17, 2.6 million each; in FY18, 3.6 million each; and in FY19, 1.5 million each.

Assuming average share prices (which is reasonable given their stated intentions to sell progressively), they each would have accrued $US4.5 million in FY16, $78.9 million in FY17, $US179.5 million in FY18 and $US144.9 million in FY19. Or, converted to Australian dollars at average exchange rates, a total of $439.6 million each. That's a cash take they could easily double this financial year.

Sometime in FY20, or early FY21, Farquhar and Cannon-Brookes will each have reaped over $1 billion (cash!) from selling their Atlassian stock.They still own 51.06 per cent of Atlassian between the two of them, and 90.48 per cent of its voting shares. But even if Atlassian goes bust tomorrow, Farquhar and Cannon-Brookes have already secured a mind-boggling fortune. It's impressive they still turn up to work.