Form 4: Five9 CFO Sells Shares to Cover Taxes After Stock Vesting

Five9's Chief Financial Officer, Barry Zwarenstein, sold 3,336 shares of common stock at an average price of $41.85 to cover taxes upon the vesting of restricted stock units.

Summary

• Barry Zwarenstein, the Chief Financial Officer of Five9, Inc., sold 3,336 shares of common stock on December 4, 2024.
• The sale was executed at a weighted average price of $41.85 per share.
• This transaction was to cover taxes associated with the vesting of restricted stock units.
• Following the transaction, Zwarenstein directly owns 98,396 shares and indirectly owns 85,121 shares through a trust.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to stock vesting and tax obligations, which is neither positive nor negative for the company's overall outlook.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Sales of shares by executives to cover taxes on vesting stock options are a common practice across the technology industry.
• Many companies have similar sell-to-cover policies to manage tax obligations for their employees.
• The volume of shares sold is relatively small compared to the total shares held by the CFO, suggesting this is a routine transaction rather than a significant divestment.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover taxes.
• The sale does not indicate any change in the CFO's confidence in the company.

Key Dates

Keywords

Five9, FIVN, insider trading, stock sale, CFO, Barry Zwarenstein, restricted stock units, tax withholding