secwatch.observer — SEC 8-K summary
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Issuer:     Five9, Inc. (FIVN)
CIK:        0001288847
Form:       8-K
Filed at:   2022-10-11T23:59:59+00:00
Accession:  0001193125-22-260119
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1288847/000119312522260119/0001193125-22-260119-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1288847/000119312522260119/d748132d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-260119

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