FIVE9, INC. (NASDAQ:FIVN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
To achieve a more equal balance of membership among the classes of directors of Five9, Inc. (the “Company”), the board of directors (the “Board”) of the Company has determined to move one of the Company’s current directors from Class II to Class I. Accordingly, on March28, 2018, Mr. David DeWalt resigned from his position as a Class II director, effective as of his appointment as a Class I director. The Board accepted Mr. DeWalt’s resignation and immediately reappointed him as a Class I director with a term set to expire at the 2018 annual meeting of stockholders. Mr. DeWalt will continue to serve on the Nominating and Governance Committee of the Board.
As a non-employee director, Mr. DeWalt will continue to receive compensation in accordance with the Company’s non-employee director compensation policy, but he will not receive a new non-employee director RSU grant as a result of this reappointment to the Board.
The Company entered into a new indemnification agreement with Mr. DeWalt in the form previously filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 5, 2015. The indemnification agreement requires the Company to indemnify Mr. DeWalt to the fullest extent permitted under Delaware law against liability that may arise by reason of his service to the Company, and to advance expenses incurred as a result of any proceeding against him as to which he could be indemnified, among other things.
About FIVE9, INC. (NASDAQ:FIVN)
Five9 Inc. (Five9) is a provider of cloud software for contact centers. The Company’s purpose-built Virtual Contact Center (VCC) cloud platform delivers a suite of applications that enable the breadth of contact center-related customer service, sales and marketing functions. It facilitates over three billion interactions between its 2,000 clients and clients’ customers per year. Its solution, which consists of its VCC cloud platform and applications, allows simultaneous management and optimization of customer interactions across voice, chat, e-mail, Web, social media and mobile channels, either directly or through its application programming interfaces (APIs). Its VCC cloud platform matches each customer interaction with an appropriate agent resource and delivers relevant customer data to the agent in real-time through integrations with adjacent enterprise applications, such as customer relationship management (CRM) software, to manage the customer experience and agent productivity.
