Burkland Michael 4

What Happened

• Michael Burkland, a director of Five9, exercised stock options (transaction code M) on Feb 26, 2026, resulting in the acquisition of 54,375 common shares. The exercise price paid was $8.13 per share for a total cash outlay of about $442,069.
• The filing also shows a related derivative entry for 54,375 shares marked at $0.00 (reported as a disposition of the derivative instrument). A footnote states the option granted on March 9, 2016 is fully vested.

Key Details

• Transaction date: 2026-02-26
• Exercise: 54,375 shares acquired @ $8.13; total ≈ $442,069
• Additional derivative line: 54,375 shares reported disposed @ $0.00 (reflects conversion/exercise reporting)
• Footnote: Option from 3/9/2016 was fully vested (F1)
• Timeliness: Filing date equals report date (timely per the filing); no late filing indicated in the provided data
• Shares owned after transaction: Not specified in the provided excerpt of the filing

Context

• This was an option exercise (M). The report does not show an immediate sale of the acquired shares (no sale price or cashless sale recorded), so it appears Burkland converted options into shares rather than selling them right away.
• Option exercises are common for insiders when options vest or when they choose to convert rights into stock; they are not in themselves a directional endorsement or condemnation of the company.