SEC Form 4 · accession 0001288847-17-000045
Five9, Inc. · FIVN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Burkland
Officer — CEO, President and Chairman · Director
Period of report
Mar 7, 2017
Accepted (ET)
Mar 7, 2017 · 6:02 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001288847
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 7, 2017 | M | 625,000 | $0.12 | A | 1,623,253 | D | |
| Common StockF1,F2 | Mar 7, 2017 | S | 625,000 | $15.80 | D | 998,253 | D | |
| Common Stock | holding | — | — | — | 72,000 | I | The Burkland Family Revocable Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F3 | $0.12 | Mar 7, 2017 | M | 625,000 | D | — | May 20, 2018 | Common Stock | 625,000 | 144,496 | D |
Explanation of responses
- F1Mr. Burkland exercised and sold 625,000 shares under an expiring 10 year option that was granted in May 2008, and which prior to this exercise, covered a total of 769,496 shares. Mr. Burkland's use of proceeds includes payment of the exercise price and satisfaction of required withholding taxes incurred in connection with the option exercise. Following this transaction, Mr. Burkland holds a total of 2,643,236 vested and unvested shares, RSUs and options.
- F2The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.80 to $16.63, inclusive. The reporting person undertakes to provide Five9, Inc., any security holder of Five9, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
- F3Original option grant was for 1,981,496 shares. Option began vesting with respect to 25% of shares subject to the option one year after January 24, 2008, and with respect to the remaining 75% of the shares subject to the option in 36 equal monthly installments thereafter.