Five9, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Five9, Inc. on June 16, 2021. The filing reports the appointment of a new member to the Board of Directors and details the associated compensatory arrangements.
Key Financial Metrics
The filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figures disclosed relate to director compensation:
- Initial RSU Award (3-year vesting): $400,000
- Initial RSU Award (1-year vesting): $183,333.33
Material Changes
The primary material change is the addition of Ms. Ana Pinczuk to the Board of Directors as a Class I Director, with a term expiring at the 2024 annual meeting. She has been appointed to the Compensation Committee. No other material changes to the company's operations or financial status are reported in this document.
Management Commentary and Risks
The filing confirms that Ms. Pinczuk will receive compensation in accordance with the Company's Non-Employee Director Compensation Policy. She is ineligible for the regular 2022 automatic annual grant but will be eligible for subsequent grants assuming continued service. An indemnification agreement was executed effective June 16, 2021, to protect Ms. Pinczuk against liabilities arising from her service. The filing states there are no relationships requiring disclosure under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the closing trading price of Five9 common stock on the grant date to calculate the exact number of RSUs issued.
- Review the Company's Non-Employee Director Compensation Policy for details on future annual grants.
- Confirm the terms of the indemnification agreement referenced as Exhibit 10.1 to the August 5, 2015 Form 10-Q.
- Check the press release issued on June 21, 2021 (Exhibit 99.1) for additional context on the appointment.