Five9 Insider Sales: Panos Kozanian Disposes 10,860 Shares Under 10b5-1

Rhea-AI Filing Summary

Panos Kozanian, Executive Vice President, Product Engineering at Five9, Inc. (FIVN), reported two open-market sales of common stock on 09/04/2025 executed under a Rule 10b5-1 trading plan adopted May 14, 2025. The Form 4 shows a sale of 4,427 shares at a weighted-average price of $25.50, after which the reporting person beneficially owned 111,748 shares. A second sale on the same date disposed of 6,433 shares at a weighted-average price of $26.12, leaving 105,315 shares beneficially owned. The filing was signed by an attorney-in-fact on 09/08/2025.

Positive

• Sales executed under a Rule 10b5-1 plan, indicating trades were pre-planned and not opportunistic
• Filing discloses weighted-average prices and price ranges, offering transparency about execution

Negative

• Officer sold 10,860 shares, reducing beneficial ownership from prior levels to 105,315
• No stated purpose beyond the 10b5-1 plan; the filing does not provide context on whether sales were for diversification, taxes, or other needs

Insights

Securities Analyst

TL;DR: Insider sales totaling 10,860 shares were disclosed, executed under a 10b5-1 plan; ownership decreased but no additional company-sensitive details provided.

The Form 4 reports two disposals totaling 10,860 shares by an officer via a pre-established Rule 10b5-1 plan, with weighted-average prices of $25.50 and $26.12. Such plan-based sales are routine mechanisms for insiders to liquidate holdings while reducing timing risk. The filing gives post-transaction beneficial ownership levels (111,748 and 105,315), which help quantify remaining insider exposure. The disclosure lacks statements about purpose beyond the 10b5-1 plan and includes price ranges for the constituent trades.

Corporate Governance Expert

TL;DR: The insider used a documented 10b5-1 plan; reporting is timely and includes required pricing details and post-sale holdings.

The Form 4 indicates compliance with Rule 10b5-1 by noting the plan adoption date (May 14, 2025) and provides weighted-average prices plus ranges for the executed trades. The presence of an attorney-in-fact signature indicates the filing formalities were completed. The disclosure is clear on number of shares sold and remaining beneficial ownership, which supports transparency but does not address any corporate governance changes or company-specific operational matters.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kozanian Panos

(Last) (First) (Middle)

C/O FIVE9, INC.

3001 BISHOP DR., STE. #350

(Street)

SAN RAMON CA 94583

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Five9, Inc. [ FIVN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Product Engineering

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/04/2025		S		4,427(1)	D	$25.5(2)	111,748	D
Common Stock	09/04/2025		S		6,433(1)	D	$26.12(3)	105,315	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 14, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.13 to $25.92, 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.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.92 to $26.34 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.

Remarks:

	/s/ Tiffany Meriweather, Attorney in Fact	09/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions did FIVN report on Form 4?

The Form 4 reports two sales on 09/04/2025 of 4,427 and 6,433 common shares by Panos Kozanian, executed under a Rule 10b5-1 plan.

What prices were the FIVN shares sold at in the Form 4?

The filing lists weighted-average prices of $25.50 for the first block (range $25.13–$25.92) and $26.12 for the second block (range $25.92–$26.34).

How many FIVN shares does the reporting person own after these transactions?

The Form 4 shows beneficial ownership of 111,748 shares after the first sale and 105,315 shares after the second sale.

Was the Form 4 filed under a trading plan?

Yes. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted on May 14, 2025.

Who signed the Form 4 filing?

The Form 4 bears the signature of Tiffany Meriweather, Attorney in Fact, dated 09/08/2025.