Five9, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Five9, Inc. on March 28, 2018. The report addresses a governance change involving the Board of Directors to achieve a more equal balance of membership among director classes.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and does not contain financial performance data.
Material Changes
The Board of Directors moved Mr. David DeWalt from Class II to Class I director status. Mr. DeWalt resigned from his Class II position effective March 28, 2018, and was immediately reappointed as a Class I director. His new term is set to expire at the 2018 annual meeting of stockholders. He will continue to serve on the Nominating and Governance Committee.
Guidance, Outlook, and Management Commentary
There is no financial guidance, outlook, or management commentary regarding business operations in this filing. Regarding compensation, Mr. DeWalt will continue to receive compensation under the existing non-employee director policy but will not receive a new Restricted Stock Unit (RSU) grant as a result of this reappointment. The Company also entered into a new indemnification agreement with Mr. DeWalt, requiring indemnification to the fullest extent permitted under Delaware law.
Key Facts for Investor Verification
- Mr. David DeWalt's director class was changed from Class II to Class I to balance board membership.
- Mr. DeWalt's term as a Class I director expires at the 2018 annual meeting of stockholders.
- No new RSU grant was issued to Mr. DeWalt for this reappointment.
- A new indemnification agreement was executed with Mr. DeWalt.
- This filing contains no financial results or operational metrics.