Five9 CEO Rowan Trollope resigns; Mike Burkland returns as CEO; Q3 prelim revenue $198M beats guidance

Five9, Inc.

Rowan Trollope resigns as CEO and director, effective Nov 28, 2022, to lead a private pre-IPO company.
Mike Burkland (Chairman and former CEO) appointed CEO effective Nov 28, 2022; receives $14M RSU and $14M target PRSU.
Preliminary Q3 2022 revenue ~$198M (guidance $192.5-$193.5M); non-GAAP EPS ~$0.38 (guidance $0.31-$0.33).
Board reclassifies Susan Barsamian from Class I to Class II to balance director classes after Trollope's departure.
Burkland's base salary $585k; annual target bonus 100% of base; eligible for standard severance benefits.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Michael Burkland

Chief Executive Officer

FIVN · Five9, Inc.

Effective: 2022-11-28
Filed: October 11, 2022, 7:59 PM ET

On October 10, 2022, the Company announced that the Board appointed its Chairman and former Chief Executive Officer, Michael Burkland, as the Company’s Chief Executive Officer, effective November 28, 2022 (the “ Effective Date ”).

Departed

Rowan Trollope

Chief Executive Officer

FIVN · Five9, Inc.

Effective: 2022-11-28
Successor: Michael Burkland
Filed: October 11, 2022, 7:59 PM ET

On October 7, 2022, Rowan Trollope informed the Company of his decision to resign as Chief Executive Officer of the Company and from the Company’s Board of Directors (the “ Board ”) as a Class II director, effective November 28, 2022 (the “ Resignation Effective Date ”).

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Burkland was appointed as Chief Executive Officer at Five9, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On October 10, 2022, the Company announced that the Board appointed its Chairman and former Chief Executive Officer, Michael Burkland, as the Company’s Chief Executive Officer, effective November 28, 2022 (the “ Effective Date ”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Rowan Trollope resigned as Chief Executive Officer at Five9, Inc..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On October 7, 2022, Rowan Trollope informed the Company of his decision to resign as Chief Executive Officer of the Company and from the Company’s Board of Directors (the “ Board ”) as a Class II director, effective November 28, 2022 (the “ Resignation Effective Date ”).

View on SEC.gov

Five9, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-260119

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