secwatch.observer — SEC 8-K summary
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Issuer:     Five9, Inc. (FIVN)
CIK:        0001288847
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001288847-24-000045
Event type: other_material
Sentiment:  neutral
Materiality: 0.20
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Five9 extends key employee severance plan by one year; no benefit changes
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- Compensation Committee approved one-year extension of KESP through April 4, 2025.
- Benefits for participating executives unchanged; includes cash severance, COBRA premiums, and double-trigger equity vesting.
- Named executive officers covered: CEO Michael Burkland (Tier 1), CFO Barry Zwarenstein (Tier 2), President/COO/EVP (Tier 3).
- KESP was set to expire April 4, 2024; extension maintains same levels and multipliers as prior plan.
- Severance multipliers unchanged: Tier 1: 12/18 mo., Tier 2: 9/15, Tier 3: 6/12, Tier 4: 4/6.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1288847/000128884724000045/0001288847-24-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1288847/000128884724000045/fivn-20240329.htm
  HTML page:      https://secwatch.observer/filing/0001288847-24-000045

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