Form 4: Five9 CFO Barry Zwarenstein Sells Shares to Cover Taxes

Barry Zwarenstein, CFO of Five9, Inc., sold shares of common stock on September 10, 2024, to cover taxes upon the vesting of restricted stock units.

Summary

• On September 10, 2024, Barry Zwarenstein, the Chief Financial Officer of Five9, Inc., sold 3,882 shares of common stock at a weighted average price of $26.91.
• He also sold 526 shares at a weighted average price of $27.43.
• These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 4, 2024.
• Following these transactions, Zwarenstein directly owns 101,732 shares and indirectly owns 85,121 shares through a trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports stock sales for tax purposes under a pre-existing plan, which is a routine activity.

Industry Context

Insider trading activity is always closely watched by investors. Sales by executives can sometimes be interpreted negatively, but in this case, the sales are explicitly stated to be for covering tax obligations related to vested stock, and were executed under a pre-arranged trading plan, which mitigates concerns about opportunistic trading.

Stakeholder Impact

• The stock sale could have a minor, temporary impact on shareholders due to the increased supply of shares in the market.
• However, since the sale is for tax purposes and under a pre-arranged plan, the impact is likely to be minimal.

Key Dates