Form 4: Five9 CEO Michael Burkland Sells Shares to Cover Taxes

Five9 CEO Michael Burkland sold shares of common stock on March 3, 2025, to cover taxes upon the vesting of restricted stock units, according to a Form 4 filing.

Summary

• Michael Burkland, CEO of Five9, Inc., executed sales of Five9 common stock on March 3, 2025.
• These sales were conducted under a pre-arranged 10b5-1 trading plan.
• A portion of the sales was specifically designated to cover taxes associated with the vesting of restricted stock units.
• The first sale involved 7,904 shares at a weighted average price of $35.35, with individual transactions ranging from $34.75 to $35.75.
• The second sale involved 4,691 shares at a weighted average price of $36.11, with individual transactions ranging from $35.79 to $36.60.
• Following these transactions, Burkland directly owns 404,056 shares and indirectly owns 133,026 shares through a trust.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock sales for tax purposes, which is neutral in sentiment.

Industry Context

Executive stock sales are a common occurrence, particularly to cover tax obligations related to equity compensation. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on insider information.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders due to the increased supply of shares in the market, but the pre-planned nature of the sales mitigates concerns about insider trading.

Key Dates