As filed with the Securities and Exchange Commission on May 13, 2015
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
UNDER THE SECURITIES ACT OF 1933
FIVE9, INC. (Exact name of registrant as specified in its charter) | ||||
Delaware (State or other jurisdiction of incorporation or organization) | 94-3394123 (I.R.S. Employer Identification No.) | |||
Bishop Ranch 8 4000 Executive Parkway, Suite 400 San Ramon, California 94583 (925) 201-2000 (Address of Principal Executive Offices, Including Zip Code) | ||||
2014 Equity Incentive Plan 2014 Employee Stock Purchase Plan (Full title of the plan) | ||||
Michael Burkland Chief Executive Officer Five9, Inc. Bishop Ranch 8 4000 Executive Parkway, Suite 400 San Ramon, CA 94583 (Name and address of agent for service) | ||||
(925) 201-2000 (Telephone number, including area code, of agent for service) | ||||
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ¨ | Accelerated filer ¨ | |
Non-accelerated filer x (Do not check if a smaller reporting company) | Smaller reporting company ¨ | |
CALCULATION OF REGISTRATION FEE
Title of Securities To Be Registered | Amount To Be Registered (1) | Proposed Maximum Offering Price Per Share ($) | Proposed Maximum Aggregate Offering Price ($) | Amount of Registration Fee ($) | ||||||||||||||||
Common Stock, $0.001 par value per share | ||||||||||||||||||||
- Reserved for future issuance under the 2014 Equity Incentive Plan | 2,466,124 | (2) | $ | 5.42 | (4) | $ | 13,366,392 | $ | 1,553.17 | |||||||||||
- Reserved for future issuance under the 2014 Employee Stock Purchase Plan | 493,224 | (3) | $ | 4.61 | (5) | $ | 2,273,763 | $ | 264.21 | |||||||||||
TOTAL | 2,959,348 | N/A | $ | 15,640,155 | $ | 1,817.38 | ||||||||||||||
(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement shall also cover any additional shares of the Registrant’s Common Stock that become issuable in respect of the securities identified in the above table by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the Registrant’s receipt of consideration which results in an increase in the number of the outstanding shares of the Registrant’s Common Stock.
(2) Represents shares of Common Stock that were automatically added to the shares reserved for issuance under the Registrant’s 2014 Equity Incentive Plan (the “2014 Plan”) on January 1, 2015 pursuant to a provision contained in the 2014 Plan. The 2014 Plan provides for an annual automatic increase to the shares reserved for issuance in an amount equal to 5% of the total number of shares outstanding on December 31st of the preceding calendar year or a lesser number as determined by the Registrant's Board of Directors.
(3) Represents shares of Common Stock that were automatically added to the shares reserved for issuance under the Registrant’s 2014 Employee Stock Purchase Plan (the “ESPP”) on January 1, 2015 pursuant to a provision contained in the ESPP. The ESPP provides for an annual automatic increase to the shares reserved for issuance, beginning on January 1, 2015 and continuing through January 1, 2024, by the lesser of (i) 1% of the total number of shares of the Registrant's common stock outstanding on December 31 of the preceding calendar year; (ii) 1,000,000 shares of common stock (subject to adjustment to reflect any split or combination of the Registrant's common stock); or (iii) such lesser number as determined by the Registrant's Board of Directors.
(4) Estimated in accordance with Rules 457(c) and (h) under the Securities Act solely for the purpose of calculating the registration fee on the basis of the average of the high and low prices of the Registrant’s Common Stock as reported on the NASDAQ Global Market on May 7, 2015.
(5) Estimated in accordance with Rules 457(c) and (h) under the Securities Act solely for the purpose of calculating the registration fee on the basis of 85% of the average of the high and low prices of the Registrant’s Common Stock as reported on the NASDAQ Global Market on May 7, 2015. Pursuant to the ESPP, the purchase price of a share of Common Stock is 85% of the fair market value of the Registrant’s Common Stock.
Registration of Additional Securities
Pursuant to General Instruction E
This Registration Statement registers additional shares of common stock of Five9, Inc. (the “Registrant”) to be issued pursuant to the 2014 Plan and the ESPP. Accordingly, the Registrant incorporates by reference the contents of the Registration Statement on Form S-8 (Commission File No. 333-195037) filed by the Registrant with the Securities and Exchange Commission (“SEC”) on April 4, 2014.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed by the Registrant with the SEC pursuant to the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), are incorporated herein by reference:
(a) the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 10, 2015, including the information specifically incorporated by reference therein from the Registrant's definitive proxy statement on Schedule 14A filed with the SEC on April 2, 2015;
(b) the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, filed with the SEC on May 13, 2015;
(c) the Registrant’s Current Reports on Form 8-K filed with the SEC on February 9, 2015, February 23, 2015 (excluding any information furnished and not filed pursuant to Item 2.02 or Item 7.01) and February 25, 2015; and
(d) the description of the Registrant’s common stock contained in the Registrant’s Registration Statement on Form 8-A (File No. 001-36383) filed with the SEC on March 28, 2014, pursuant to Section 12(b) of the Exchange Act, including any amendment or report filed for the purpose of updating such description.
All documents filed by the Registrant with the SEC pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (excluding any information furnished pursuant to Item 2.02 or Item 7.01 on any current report on Form 8-K) subsequent to the date of this Registration Statement and prior to the filing of a post-effective amendment that indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, will be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing of such documents. Any statement contained in any document incorporated or deemed to be incorporated by reference herein will be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded will not be deemed, except as modified or superseded, to constitute a part of this Registration Statement.
Item 8. Exhibits
See the attached Exhibit Index, which is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San Ramon, State of California, on May 13, 2015.
Five9, Inc. | |||
By: | /s/ Michael Burkland | ||
Michael Burkland | |||
Chief Executive Officer and President | |||
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Michael Burkland and Barry Zwarenstein, and each of them individually, as his or her attorney-in-fact, each with full power of substitution, for him or her in any and all capacities, to sign any and all amendments to this Registration Statement on Form S-8, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that said attorney-in-fact, or his or her substitute, may do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated:
Signature | Title | Date | ||
/s/ Michael Burkland Michael Burkland | Director, Chief Executive Officer and President (Principal Executive Officer) | May 13, 2015 | ||
/s/ Barry Zwarenstein Barry Zwarenstein | Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) | May 13, 2015 | ||
/s/ Jack Acosta Jack Acosta | Director | May 13, 2015 | ||
/s/ Kimberly Alexy Kimberly Alexy | Director | May 13, 2015 | ||
/s/ Jayendra Das Jayendra Das | Director | May 13, 2015 | ||
/s/ David DeWalt David DeWalt | Director | May 13, 2015 | ||
/s/ Mitchell Kertzman Mitchell Kertzman | Director | May 13, 2015 | ||
/s/ David Welsh David Welsh | Director | May 13, 2015 | ||
/s/ Tim Wilson Tim Wilson | Director | May 13, 2015 | ||
/s/ Robert Zollars Robert Zollars | Director | May 13, 2015 | ||
Exhibit Index
Exhibit Number | Description | Filed Herewith | ||
5.1 | Opinion of Jones Day. | X | ||
23.1 | Consent of KPMG LLP, independent registered public accounting firm. | X | ||
23.2 | Consent of Jones Day (included in Exhibit 5.1). | X | ||
24.1 | Power of Attorney (included on the signature page of this Registration Statement). | X | ||
Exhibit 5.1 |
JONES DAY |
SILICON VALLEY OFFICE . 1755 EMBARCADERO ROAD . PALO ALTO, CALIFORNIA 94303 |
TELEPHONE: +1.650.739.3939 . FACSIMILE: +1.650.739.3900 |
May 13, 2015
Five9, Inc.
Bishop Ranch 8
4000 Executive Parkway, Suite 400
San Ramon, California 94583
Re: Registration Statement on Form S-8 filed by Five9, Inc.
Ladies and Gentlemen:
We have acted as counsel for Five9, Inc., a Delaware corporation (the “Company”), in connection with the registration under the Securities Act of 1933 (the “Act”), of an aggregate of 2,959,348 shares (the “Shares”) of common stock, par value $0.001 per share, of the Company that may be issued or delivered and sold pursuant to the Company’s 2014 Equity Incentive Plan and 2014 Employee Stock Purchase Plan (together, the “Plans”). In connection with the opinion expressed herein, we have examined such documents, records and matters of law as we have deemed relevant or necessary for purposes of this opinion. Based on the foregoing, and subject to the further limitations, qualifications and assumptions set forth herein, we are of the opinion that the Shares that may be issued or delivered and sold pursuant to the Plans have been authorized by all necessary corporate action and will be, when issued or delivered and sold in accordance with such Plans and the authorized forms of stock option, restricted stock or other applicable agreements thereunder, validly issued, fully paid and nonassessable, provided that the consideration for the Shares is at least equal to the stated par value thereof.
The opinion expressed herein is limited to the General Corporation Law of the State of Delaware, as currently in effect, and we express no opinion with respect to the laws of any other jurisdiction. In addition, we have assumed that the resolutions authorizing the Company to issue or deliver and sell the Shares pursuant to the Plans and the applicable award agreements will be in full force and effect at all times at which such Shares are issued or delivered or sold by the Company, and the Company will take no action inconsistent with such resolutions.
In rendering the opinion above, we have assumed that each award under the Plans will be approved by the Board of Directors of the Company or an authorized committee of the Board of Directors.
We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement on Form S-8 filed by the Company to effect registration of the Shares to be issued or delivered and sold pursuant to the Plans under the Act. In giving such consent, we do not thereby admit that we are included in the category of persons whose consent is required under Section 7 of the
ALKHOBAR . ATLANTA . BEIJING . BOSTON . BRUSSELS . CHICAGO . CLEVELAND . COLUMBUS . DALLAS . DUBAI |
FRANKFURT . HONG KONG . HOUSTON . IRVINE . JEDDAH . LONDON . LOS ANGELES . MADRID . MEXICO CITY |
MILAN . MOSCOW . MUNICH . NEW DELHI . NEW YORK . PARIS . PITTSBURGH . RIYADH . SAN DIEGO |
SAN FRANCISCO . SÃO PAULO . SHANGHAI . SILICON VALLEY . SINGAPORE . SYDNEY . TAIPEI . TOKYO . WASHINGTON |
JONES DAY
May 13, 2015
Page 2
Act or the rules and regulations of the Securities and Exchange Commission promulgated thereunder.
Very truly yours, | |
/s/ Jones Day | |
Jones Day | |
Exhibit 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors
Five9, Inc.:
We consent to the use of our report dated March 10, 2015, with respect to the consolidated balance sheets of Five9, Inc. and subsidiaries as of December 31, 2014 and 2013, and the related consolidated statements of operations and comprehensive loss, shareholders’ equity (deficit), and cash flows for each of the years in the three-year period ended December 31, 2014, incorporated herein by reference.
/s/ KPMG LLP
Santa Clara, California
May 13, 2015