Company: TEAM
Filing Date: 2025-08-15
Form Type: 10-K
Source: 0001650372-25-000036
Chunk: 149

Company: Atlassian Corp
Filing Date: 2025-08-15
Form: 10-K
Item: Item 8
Chunk 149
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87, respectively. The total intrinsic value of the RSUs vested in fiscal years 2024 and 2023 was $950.3 million and $617.0 million, respectively. The income tax benefit recognized related to awards vested in fiscal years 2025, 2024 and 2023 was $335.1 million, $218.7 million, and $156.5 million, respectively. As of June 30, 2025, total compensation cost not yet recognized in the consolidated financial statements related to employee and director RSU awards was $2.4 billion, which is expected to be recognized over a weighted-average period of 2.6 years.

93

During fiscal year 2025, the Company did not grant any RSAs. During fiscal year 2024, the Company granted RSAs for 301,751 shares of Class A Common Stock in connection with a business combination. As of June 30, 2025 and 2024, there were RSAs for 90,083 and 156,856 shares of Class A Common Stock outstanding, respectively. These outstanding RSAs are subject to forfeiture or repurchase at the original exercise price during the repurchase period following employee termination, as applicable. The total aggregate intrinsic value of outstanding RSAs was $18.3 million and $27.7 million as of June 30, 2025 and 2024, respectively.Of the total stock-based compensation expense, costs recognized for awards granted to non-employees were immaterial for all periods presented.Share Repurchase ProgramIn January 2023, the Board of Directors authorized a program to repurchase up to $1.0 billion of the Company’s outstanding Class A Common Stock (the “2023 Repurchase Program”). In September 2024, the Board of Directors authorized a new program under which the Company may repurchase up to an additional $1.5 billion of the Company’s outstanding Class A Common Stock (the “2024 Repurchase Program” and, together with the 2023 Repurchase Program, the “Repurchase Programs”). The 2024 Repurchase Program commenced in April 2025 following the completion of the 2023 Repurchase Program.The 2024 Repurchase Program does not have a fixed expiration date, may be suspended or discontinued at any time, and does not obligate the Company to repurchase any specific dollar amount or to acquire any specific number of shares. The Company may repurchase shares of Class A Common Stock from