Voss Capital (FIVN) discloses 4.89M-share beneficial stake in Five9

Rhea-AI Filing Summary

Voss Capital, L.P. and related investment entities report beneficial ownership of 4,885,826 shares of Five9, Inc. common stock, representing approximately 6.4% of the outstanding shares. These holdings include shares owned by Voss Value Master Fund, Voss Value-Oriented Special Situations Fund, and certain Voss Managed Accounts.

Voss Value Master Fund holds 700,000 shares (about 0.9% of the class), and Voss Value-Oriented Special Situations Fund holds 110,826 shares (about 0.1%). Voss Advisors GP, LLC, as general partner, may be deemed to beneficially own 810,826 shares, or 1.1%. The aggregate percentages are based on 76,563,988 shares outstanding as of April 27, 2026.

Key Figures

Voss Capital beneficial ownership: 4,885,826 shares Voss Capital ownership percentage: 6.4% Five9 shares outstanding: 76,563,988 shares +4 more

7 metrics

Voss Capital beneficial ownership 4,885,826 shares Aggregate shares Voss Capital and related entities may be deemed to own

Voss Capital ownership percentage 6.4% Portion of Five9 outstanding common stock attributed to Voss Capital and affiliates

Five9 shares outstanding 76,563,988 shares Common shares outstanding as of April 27, 2026

Voss Managed Accounts holdings 4,075,000 shares Five9 shares held in accounts managed by Voss Capital

Voss Value Master Fund holdings 700,000 shares Five9 shares beneficially owned, about 0.9% of class

Voss Value-Oriented Special Situations Fund holdings 110,826 shares Five9 shares beneficially owned, about 0.1% of class

Voss Advisors GP, LLC holdings 810,826 shares Five9 shares Voss Advisors GP may be deemed to beneficially own, 1.1% of class

Key Terms

beneficial owner, Sole Voting Power, Sole Dispositive Power, Voss Managed Accounts, +1 more

5 terms

beneficial owner financial

"may be deemed the beneficial owner of the (i) 700,000 Shares"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

Sole Voting Power financial

"5 | Sole Voting Power 3,985,826.00 6 | Shared Voting Power 900,000.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power financial

"7 | Sole Dispositive Power 3,985,826.00 8 | Shared Dispositive Power 900,000.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Voss Managed Accounts financial

"4,075,000 Shares held in the Voss Managed Accounts"

percent of class financial

"may be deemed to beneficially own approximately 6.4% of the outstanding Shares"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

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Available on EDGAR 07/14/2026 - 06:55 PM Accepted by SEC EDGAR 07/14/2026 - 06:55 PM Learn about SEC filing dates

FAQ

What ownership stake in Five9 (FIVN) does Voss Capital report?

Voss Capital reports beneficial ownership of 4,885,826 Five9 shares, equal to approximately 6.4% of the outstanding common stock. This total includes positions held by affiliated funds and certain Voss Managed Accounts.

How many Five9 (FIVN) shares are outstanding for these ownership calculations?

The ownership percentages are calculated using 76,563,988 Five9 common shares outstanding as of April 27, 2026, as disclosed in Five9’s Form 10-Q filed on April 30, 2026.

What does Voss Value Master Fund own in Five9 (FIVN)?

Voss Value Master Fund beneficially owns 700,000 Five9 shares, representing approximately 0.9% of the company’s outstanding common stock, with sole voting and dispositive power over these shares according to the reported information.

What is Voss Value-Oriented Special Situations Fund’s stake in Five9 (FIVN)?

Voss Value-Oriented Special Situations Fund beneficially owns 110,826 Five9 shares, or about 0.1% of the outstanding common stock, and has sole voting and dispositive power over this position based on the reported details.

How much of Five9 (FIVN) is held in Voss Managed Accounts?

Voss Capital indicates that 4,075,000 Five9 shares are held in Voss Managed Accounts. These shares are included within the total 4,885,826 shares that Voss Capital and its related entities may be deemed to beneficially own.

What is the reported ownership of Voss Advisors GP, LLC in Five9 (FIVN)?

Voss Advisors GP, LLC may be deemed to beneficially own 810,826 Five9 shares, or approximately 1.1% of the outstanding common stock, through its role as general partner of the Voss funds that directly hold shares.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Five9, Inc.

(Name of Issuer)

Common stock, par value $0.001 per share

(Title of Class of Securities)

338307101

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 338307101

1

Names of Reporting Persons

Voss Value Master Fund, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 700,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 700,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

700,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.9 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 338307101

1

Names of Reporting Persons

Voss Value-Oriented Special Situations Fund, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 110,826.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 110,826.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

110,826.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 338307101

1

Names of Reporting Persons

Voss Advisors GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 810,826.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 810,826.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

810,826.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.1 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 338307101

1

Names of Reporting Persons

Voss Capital, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,985,826.00
6	Shared Voting Power 900,000.00
7	Sole Dispositive Power 3,985,826.00
8	Shared Dispositive Power 900,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,885,826.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.4 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 338307101

1

Names of Reporting Persons

Cocke Travis W.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,985,826.00
6	Shared Voting Power 900,000.00
7	Sole Dispositive Power 3,985,826.00
8	Shared Dispositive Power 900,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,885,826.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.4 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Five9, Inc.
(b)	Address of issuer's principal executive offices: 3001 BISHOP DRIVE, SUITE 350, SAN RAMON, CALIFORNIA, 94583
Item 2.
(a)	Name of person filing: The names of the persons filing this statement on Schedule 13G (collectively, the "Reporting Persons") are: 1. Voss Value Master Fund, L.P. ("Voss Value Master Fund"); 2. Voss Value-Oriented Special Situations Fund, L.P. ("Voss Value-Oriented Special Situations Fund"); 3. Voss Advisors GP, LLC ("Voss GP"); 4. Voss Capital, L.P. ("Voss Capital"); and 5. Travis W. Cocke.
(b)	Address or principal business office or, if none, residence: a) Voss Value Master Fund: 3773 Richmond, Suite 500 Houston, Texas 77046 b) Voss Value-Oriented Special Situations Fund: 3773 Richmond, Suite 500 Houston, Texas 77046 c) Voss GP: 3773 Richmond, Suite 500 Houston, Texas 77046 d) Voss Capital: 3773 Richmond, Suite 500 Houston, Texas 77046 e) Travis W. Cocke: 3773 Richmond, Suite 500 Houston, Texas 77046
(c)	Citizenship: a) Voss Value Master Fund: Cayman Islands b) Voss Value-Oriented Special Situations Fund: Delaware c) Voss GP: Texas d) Voss Capital: Texas e) Travis W. Cocke: USA
(d)	Title of class of securities: Common stock, par value $0.001 per share
(e)	CUSIP No.: 338307101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: As of the date hereof: a) Voss Value Master Fund beneficially owned 700,000 Ordinary Shares of the Issuer (the "Shares"). b) Voss Value-Oriented Special Situations Fund beneficially owned 110,826 Shares. c) Voss GP, as the general partner of Voss Value Master Fund and Voss Value-Oriented Special Situations Fund, may be deemed the beneficial owner of the (i) 700,000 Shares beneficially owned by Voss Value Master Fund and (ii) 110,826 Shares beneficially owned by Voss Value-Oriented Special Situations Fund. d) Voss Capital, as the investment manager of Voss Value Master Fund, Voss Value-Oriented Special Situations Fund and certain accounts managed by Voss Capital (the "Voss Managed Accounts"), may be deemed the beneficial owner of the (i) 700,000 Shares beneficially owned by Voss Value Master Fund, (ii) 110,826 Shares beneficially owned by Voss Value-Oriented Special Situations Fund and (iii) 4,075,000 Shares held in the Voss Managed Accounts. e) Mr. Cocke, as the managing member of each of Voss Capital and Voss GP, may be deemed the beneficial owner of the (i) 700,000 Shares owned by Voss Value Master Fund, (ii) 110,826 Shares beneficially owned by Voss Value-Oriented Special Situations Fund and (iii) 4,075,000 Shares held in the Voss Managed Accounts.
(b)	Percent of class: The aggregate percentage of the Shares reported owned by each person named herein is based upon 76,563,988 Shares outstanding as of April 27, 2026, which is the total number of Shares outstanding as disclosed in the Issuer's Form 10Q filed with the Securities and Exchange Commission on April 30, 2026. As of the date hereof: (i) Voss Value Master Fund may be deemed to beneficially own approximately 0.9% of the outstanding Shares; (ii) Voss Value-Oriented Special Situations Fund may be deemed to beneficially own approximately 0.1% of the outstanding Shares; (iii) Voss GP may be deemed to beneficially own approximately 1.1% of the outstanding Shares; (iv) Voss Capital may be deemed to beneficially own approximately 6.4% of the outstanding Shares (approximately 5.3% of the outstanding Shares are held in the Voss Managed Accounts); and (v) Mr. Cocke may be deemed to beneficially own approximately 6.4% of the outstanding Shares.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Cover Pages Items 5-9.
	(ii) Shared power to vote or to direct the vote: See Cover Pages Items 5-9.
	(iii) Sole power to dispose or to direct the disposition of: See Cover Pages Items 5-9.
	(iv) Shared power to dispose or to direct the disposition of: See Cover Pages Items 5-9.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. See Exhibit 99.1 to the Schedule 13G filed with the Securities and Exchange Commission on August 13, 2025.
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Voss Value Master Fund, LP

Signature:	/s/ Travis W. Cocke
Name/Title:	Travis W. Cocke, Managing Member of Voss Advisors GP, LLC, its General Partner
Date:	07/14/2026

Voss Value-Oriented Special Situations Fund, LP

Signature:	/s/ Travis W. Cocke
Name/Title:	Travis W. Cocke, Managing Member of Voss Advisors GP, LLC, its General Partner
Date:	07/14/2026

Voss Advisors GP, LLC

Signature:	/s/ Travis W. Cocke
Name/Title:	Travis W. Cocke, Managing Member
Date:	07/14/2026

Voss Capital, LP

Signature:	/s/ Travis W. Cocke
Name/Title:	Travis W. Cocke, Managing Member
Date:	07/14/2026

Cocke Travis W.

Signature:	/s/ Travis W. Cocke
Name/Title:	Travis W. Cocke
Date:	07/14/2026