Kozanian Panos 4

What Happened

• Panos Kozanian, EVP, Product Engineering at Five9 (FIVN), sold a total of 10,862 shares in two open-market transactions on March 4, 2026. The sales comprised 3,860 shares at a weighted average price of $17.78 ($68,631) and 7,002 shares at a weighted average price of $17.98 ($125,896), totaling approximately $194,527. These were sales (not purchases) and are routine dispositions.

Key Details

• Transaction dates: March 4, 2026 (reported on Form 4 filed March 6, 2026) — appears to be filed timely.
• Sales:
  • 3,860 shares at $17.78 (weighted average) — total $68,631. Price range for these sales: $17.49–$17.92 (per footnote).
  • 7,002 shares at $17.98 (weighted average) — total $125,896. Price range for these sales: $17.92–$18.07 (per footnote).
• Shares owned after transaction: Not specified in the provided filing.
• Notable footnotes:
  • Sales were effected under a Rule 10b5-1 trading plan adopted May 14, 2025.
  • Sales were made to cover taxes resulting from restricted stock unit (RSU) vesting.
  • Reported prices are weighted averages; the filer can provide per-trade breakdowns on request.
• Transaction code: S = Sale.

Context

• These sales were executed under a pre-established 10b5-1 plan and were used to satisfy tax withholding on RSU vesting — a common, routine reason for insider sales that does not necessarily indicate a change in view on the company.
• For retail investors, purchases are typically a stronger bullish signal than routine tax-withholding sales; treat this as administrative insider selling rather than a definitive signal about company prospects.