Company: TEAM
Filing Date: 2025-04-14
Form Type: 8-K
Source: 0001650372-25-000013
Chunk: 0

Company: Atlassian Corp
Filing Date: 2025-04-14
Form: 8-K
Item: Item 5.02
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Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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On April 9, 2025, Enrique Salem notified Atlassian Corporation (the “Company”) of his decision to retire as a director of the Company, effective as of April 14, 2025. The Board of Directors of the Company (the “Board”) and the Company are deeply grateful for Mr. Salem’s dedication and contributions to the Company during his almost 12-year tenure as a director.

On April 11, 2025, the Board approved the appointment of Karen Dykstra as a director of the Company, effective as of April 14, 2025 (the “Start Date”). Ms. Dykstra will serve on the Audit Committee of the Board. Ms. Dykstra was the Chief Financial Officer and Executive Vice President of VMware, Inc. from June 2023 through Broadcom Inc.’s acquisition of VMware in November 2023. She currently serves on the boards of directors of Gartner Inc. and Arm Holdings Plc. Ms. Dykstra holds a Bachelor of Science from Rider University and a Master of Business Administration from Fairleigh Dickinson University.

Ms. Dykstra will participate in the Company’s non-employee directors’ compensation arrangements. Under the terms of these arrangements, Ms. Dykstra will receive a $55,000 retainer for annual service on the Board and an annual award of restricted stock units (“ RSUs”) having a fair market value of $290,000 (the “Annual Grant”), in each case pro-rated for the year based on the time between the Start Date and the Company’s next annual meeting of stockholders. These RSUs will vest in full on the earlier of (i) the one-year anniversary of the grant date or (ii) the next annual meeting of stockholders, subject to continued service as a director through the applicable vesting date, unless the Compensation and Leadership Development Committee of the Board determines that circumstances warrant continuation of vesting. All RSUs granted to non-employee directors are subject to 100% accelerated vesting upon the sale of the Company.

There are no arrangements or understandings between Ms. Dykstra and any other persons pursuant to which Ms. Dykstra was named a director of the Company. The Company has also entered into its standard form of indemnification agreement with Ms. Dykstra (in substantially the form filed with the Securities and Exchange