Form 4: Five9 CRO Sells Shares for Tax Obligations

Five9's Chief Revenue Officer, Matthew E. Tuckness, sold 5,255 shares of common stock to cover tax withholding obligations related to restricted stock unit vesting.

Summary

• Matthew E. Tuckness, Chief Revenue Officer of Five9, Inc., reported a sale of common stock.
• The transaction involved 5,255 shares of Five9 common stock.
• The shares were sold at a weighted average price of $20.35 per share.
• The sale was mandated by Five9, Inc. to cover tax withholding obligations associated with the vesting and settlement of restricted stock units.
• This was not a discretionary trade by Mr. Tuckness.
• Following the transaction, Mr. Tuckness beneficially owns 176,379 shares of Five9 common stock.

Sentiment

Score: 5

Explanation: The transaction is a routine, non-discretionary sale to cover tax obligations related to RSU vesting, which is a neutral event for the company's operational performance or stock valuation.

Positives

• The transaction is a routine, non-discretionary sale to cover tax obligations, indicating the vesting of restricted stock units for the Chief Revenue Officer.

Management Comments

• The sale reported on this form represents a Five9, Inc. mandated sale by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units, and it does not represent a discretionary trade by the Reporting Person.
• The price reported in Column 4 is a weighted average price applied to the transaction by the broker for sales to cover taxes upon vesting of restricted stock units for all employees of Five9, Inc., including the Reporting Person, on the date such sales occurred.

Industry Context

This type of transaction is common across publicly traded companies where executives receive equity compensation in the form of restricted stock units (RSUs). Upon vesting, a portion of the shares is typically sold to cover statutory tax obligations, rather than being a discretionary market action.

Stakeholder Impact

• Shareholders: Minimal direct impact as it's a non-discretionary tax-related sale, not indicative of management's view on future stock performance.
• Employees: No direct impact.

Key Dates

Keywords

Five9, FIVN, SEC Form 4, Insider Trading, Stock Sale, Restricted Stock Units, Tax Withholding, Executive Compensation, Matthew E. Tuckness