Form 4: Five9 President Sells Shares to Cover Tax Obligations on RSU Vesting

Five9, Inc. President Andy Dignan sold a total of 5,545 shares of common stock in early June 2025, primarily to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• Andy Dignan, President of Five9, Inc. (FIVN), reported sales of common stock on June 4 and June 5, 2025.
• On June 4, 2025, Dignan sold 2,178 shares at a weighted average price of $28.28 per share and an additional 2,667 shares at a weighted average price of $28.10 per share.
• On June 5, 2025, Dignan sold 700 shares at a price of $29.23 per share.
• The total number of shares sold across these transactions is 5,545.
• These sales were mandated by Five9, Inc. to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units (RSUs) and do not represent discretionary trades.
• Some of the reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Dignan on December 10, 2024.
• Following these transactions, Andy Dignan beneficially owns 227,139 shares of Five9, Inc. common stock.
• The reported beneficial ownership includes 675 shares acquired under the Five9, Inc. Employee Stock Purchase Plan on May 15, 2025.

Sentiment

Score: 5

Explanation: The transactions reported are routine, non-discretionary sales by an executive to cover tax obligations arising from the vesting of restricted stock units, which is a common practice and does not indicate a change in company fundamentals or management's view of the stock.

Positives

• The sales were non-discretionary, mandated to cover tax withholding obligations on RSU vesting, which is a routine and expected event for executives.
• The reporting person acquired 675 shares under the Five9, Inc. Employee Stock Purchase Plan, indicating continued participation in employee stock programs.

Negatives

• A reduction in the direct beneficial ownership of common stock by a key executive, although for a non-discretionary reason.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

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 sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 10, 2024.

Industry Context

This Form 4 filing is a routine disclosure of insider stock transactions and does not provide information directly related to broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders may observe a slight reduction in direct insider ownership, but the non-discretionary nature of the sales, explicitly stated as for tax purposes, mitigates concerns about management's confidence in the company's future.

Key Dates

Recommendation

Keywords

Five9, FIVN, SEC Form 4, Insider Trading, Stock Sale, Restricted Stock Units, RSU, Tax Withholding, Rule 10b5-1, Andy Dignan, Employee Stock Purchase Plan, Executive Compensation