secwatch.observer — SEC 8-K summary
======================================

Issuer:     Five9, Inc. (FIVN)
CIK:        0001288847
Form:       8-K
Filed at:   2022-05-24T23:59:59+00:00
Accession:  0001193125-22-158111
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Five9 grants $8M retention awards to President; title changed to President and CRO
--------------------------------------------------------------------------------

- Daniel Burkland appointed President and Chief Revenue Officer, effective immediately.
- Receives RSUs valued at $2M vesting quarterly over two years subject to continued service.
- Receives PRSUs valued at $6M tied to two quarterly revenue targets through Q4 2023.
- Burkland is brother of Chairman Michael Burkland (related-party disclosure).
- PRSUs vest in quarterly installments upon certification of revenue goal achievement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1288847/000119312522158111/0001193125-22-158111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1288847/000119312522158111/d360924d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-158111

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer