Five9 (FIVN) CFO Lee Bryan M Sells 20,618 Shares

What Happened
Lee Bryan M, Chief Financial Officer of Five9, sold a total of 20,618 shares in multiple open‑market transactions. The trades broke down as: 6,500 shares at a weighted avg $33.05 ($214,825), 7,813 shares at $33.52 ($261,892), 4,995 shares at $33.45 ($167,083), and 1,310 shares at $32.60 ($42,706). Aggregate proceeds were about $686,506. These were sales (not purchases) and appear routine rather than a signal of positive conviction.

Key Details

• Transaction dates: Sept 4, 2026 (three sales) and Sept 8, 2026 (one sale). Form 4 filed Sept 9, 2026.
• Prices: reported as weighted averages; the filing notes sale price ranges across transactions from approximately $32.35 to $33.75.
• Total shares sold: 20,618 for ~ $686,506.
• Shares owned after transaction: Not specified in the information provided on this Form 4.
• Footnotes of note:
  • F1: Sales were effected under a Rule 10b5‑1 trading plan adopted Sept 3, 2025.
  • F2 & F5: Sales were made to cover taxes upon the vesting of restricted stock units (i.e., sell‑to‑cover).
  • F3, F4, F6: Reported prices are weighted averages; the filer offers to provide breakdowns of shares sold at each separate price upon request.
• Transaction code: S = Sale. The circumstances cited (sell‑to‑cover under company policy and a 10b5‑1 plan) indicate routine tax‑withholding sales rather than discretionary open‑market selling for investment reasons.

Context
Sell‑to‑cover and 10b5‑1 plan transactions are common when restricted stock units vest; they are generally considered routine administrative sales rather than strong signals about an insider’s view of the company. Retail investors tracking insider activity should weigh these routine, tax‑related sales differently than discretionary insider purchases.