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

Panos Kozanian, EVP of Product Engineering at Five9, Inc., sold 6,893 shares of common stock on June 4, 2024, to cover taxes upon the vesting of restricted stock units.

Summary

• Panos Kozanian, an executive at Five9, Inc., reported a transaction involving the sale of company stock.
• On June 4, 2024, Kozanian sold 6,893 shares of common stock at a price of $46.3 per share.
• The sale was executed to cover taxes associated with the vesting of restricted stock units, in accordance with the company's sell-to-cover withholding policy.
• Following the transaction, Kozanian beneficially owns 94,477 shares of Five9 common stock, which includes 344 shares acquired through the Employee Stock Purchase Plan on May 15, 2024.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to an executive's stock sale for tax purposes. It doesn't convey any strong positive or negative sentiment about the company's performance or future prospects.

Industry Context

Executive stock sales are a common occurrence, often related to compensation and tax planning. The sale itself doesn't necessarily indicate a negative outlook for the company.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely to be minimal given the relatively small number of shares involved.

Key Dates