AGM 2020

May 18, 2020

Good day, and welcome to the Five9 Annual Meeting of Stockholders. At this time, I would like to turn the call over to Mike Burkland, Chairman of the Board. Please go ahead. Thank you for joining us today. I'm Mike Burkland, Chairman of the Board of Directors of Five9. I'll be presiding at this meeting and the meeting is now called to order. Along with my fellow directors and executive officers of the company, I would like to welcome you to our Annual Meeting of Stockholders. We appreciate your attendance, your interest and your support of Five9. This annual meeting of stockholders is held pursuant to the bylaws of the company and written notice to all stockholders. We request that if you have questions pertaining to the proposals being considered at this meeting, please enter and submit them in the space provided on the virtual meeting screen. Please note that if you are logged in as a guest, you will not be able to pose questions through the portal. After introducing the directors and officers in attendance and dealing with a few procedural matters, we will take up the items to be acted upon. We would like to introduce the directors of Five9 who are on the webcast today. Please welcome David Welsh, our Lead Independent Director and Chairman of our Nominating and Governance Committee Jack Acosta, the Chairman of our Audit Committee Bob Zollars, the Chairman of our Compensation Committee Kimberly Alexei, David DeWalt and Michael Berdyak. The Five9 executives who are in attendance are Rowan Trollope, our CEO and also a Director Barry Zwarenstein, our CFO Dan Burkland, our President David Hill, our SVP of Finance and Kimberly Wodakainen, our General Counsel, Chief Compliance Officer and Secretary. In accordance with our bylaws, I will act as Chairman of the meeting and Mrs. Luticainen will act as Secretary of the meeting. Ms. Lidikainen, please proceed with the introduction of our auditors. Thank you, Mike. Attending this meeting are Dave Miller and Bailey Zheng of KPMG, our independent auditors. Mr. Miller is available to respond to appropriate questions submitted in the space provided on the virtual meeting screen. In addition, Kathy Blackwell, representing Broadridge Financial Solutions has been appointed and will serve as the independent inspector of the election for this meeting. She has filed a note of office with me for inclusion in the minutes of this meeting. The polls for voting on all matters are open. All Five9 stockholders entitled to vote at this meeting have the ability to do so online. If you are a stockholder entitled to vote and have not yet voted or if you want to change your previously cast vote, please do so on the website used to access this meeting. Please remember that if you have already voted by proxy, it is not necessary to vote again by online ballot. After voting has been completed on all matters on the agenda, the ballots will be collected and counted. The Inspector of Election will collect any balance submitted online during this meeting. The named proxies for this stockholder meeting are Rowan Trollope and Barry Zwarenstein. If you have returned your proxy card, the proxy holders will vote your shares as you indicated on the proxy card. After the votes for all matters are collected and tabulated, the polls will be closed and Mike will ask the inspector to provide the preliminary results of such voting. Broadridge has delivered to us an affidavit of mailing certifying that the notice of this meeting has been mailed to stockholders of record at the close of business on March 20, 2020. Broadridge commenced such mailing to stockholders on April 3, 2020. The company's annual report on Form 10 ks and the proxy materials for this meeting were furnished to stockholders entitled to vote at this meeting over the Internet beginning on April 3, 2020, and such materials are available on the website used to access this meeting. The list of stockholders of record of the company as of the close of business on March 20, 2020, is available for inspection on the website used to access this meeting by any stockholder during this meeting. Mr. Chairman, on March 20, 2020, the record date for this annual meeting, there were outstanding and entitled to vote a total of 61,990,800 and 49 shares of common stock. I have been informed by the Inspector of Election that there are 52,121,000 702 shares of stock represented by proxy at this meeting or approximately 92% of all of the shares entitled to vote at this annual meeting. The shares are represented exceed 50% of the total shares entitled to vote at this meeting and thus constitute a quorum. Thank you, Kimberly. On the basis of the report of the Secretary and the Inspector of Election, proper notice has been given and a quorum is present. Accordingly, this meeting has been properly convened. The next matter to come before the meeting is the approval of the following proposals. Kimberly, please review the proposals. The first proposal to come before the meeting is the nomination of candidates for election as directors. At this meeting, we will be electing 3 directors as Class 3 directors for a term expiring at the 2023 Annual Meeting of Stockholders. The nominees are Kimberly Alexei, Michael Burkland and Robert Zollars. Information concerning their principal occupation, service with Five9, skills and qualifications and other matters, which may be of interest, are contained in the proxy statement. The Board of Directors recommends that our stockholders vote for each such nominee. No other nominations were received prior to the deadline established in the company's bylaws and the nominations are closed. The next matter to come before the meeting is the non binding advisory vote on the compensation of our named executive officers as disclosed in our proxy statement. The Board of Directors recommends that our stockholders vote for the resolution approving on a non binding advisory basis the compensation of our named executive officers as disclosed in our proxy statement. The next matter to come before the meeting is the ratification of the appointment of KPMG as the company's independent registered public accounting firm. The Board of Directors recommends that the appointment of the independent registered public accounting firm of KPMG to serve as the company's independent registered public accounting firm and to audit the company's financial statements for the fiscal year ending December 31, 2020 be ratified. Mike, there have been no questions submitted via the portal. Thank you. There are no questions which have been submitted via the website. Since all those desiring to vote have done so, I hereby declare the polls closed at 8:0:8 am Pacific Daylight Time. The Inspector of Election has tallied the ballots and proxies and has delivered the preliminary report to Kimberly as Secretary, who will now announce the preliminary results. Mr. Chairman, the Inspector of Election has tallied the ballots and proxies cast for the proposals presented at this meeting and has submitted her preliminary report. Each of the 3 persons nominated for Director has received a plurality of the votes cast and has been elected as a Director of the company to serve for a 3 year term that will expire in 2023. The compensation of our named executive officers as disclosed in our proxy statement was approved on a non binding advisory basis. The appointment of KPMG as the company's independent registered public accounting firm for the fiscal year ending December 31, 2020, has been ratified. That concludes the business of this meeting. The meeting is now adjourned. Thank you for attending today's meeting. This concludes our webcast and ends our call.