Flash FinanceUS
Market closed S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · Five9 (FIVN)

Five9 CEO Michael Burkland to retire; Bryan Lee named CFO effective July 31

Neutral Impact 4 of 5 leadership Written later

Five9 said CEO Michael Burkland will retire once a successor is appointed and begins serving as CEO, and he will then serve up to six months as Executive Chairman. Bryan Lee, the company's interim CFO since April 1, 2025, was named permanent Chief Financial Officer effective July 31, 2025, and the board also proposed declassifying the board and removing its supermajority vote threshold at the 2026 annual meeting.

Key points

  • Burkland remains CEO until a successor begins serving; a committee of independent directors has started a search for the next CEO
  • Burkland's transition pay: $70,000 annual salary as Executive Chairman during a Transition Period of up to 6 months after the CEO Transition Date
  • Lee's CFO package includes a $456,000 base salary, a 75% target bonus, a $3.0 million RSU award and a $1.5 million target PRSU award
  • Board intends to phase out its classified structure by the 2028 annual meeting and replace the 66 2/3% supermajority vote with a majority threshold effective after the 2027 Annual Meeting

The filing

CompanyFive9 (FIVN)
Form8-K, current report
Filed with the SECJul 31, 2025, 4:13 PM ET
Accession number0001288847-25-000177

Items reported: 5.02 Director / Officer Change8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 31, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.