Five9's CEO received $17.4 million in total compensation in 2025, which is a very high pay level for a company with a $1.1 billion market cap that has lost nearly 80% of its stock value over three years and trails its peer group by more than 45 percentage points over that period. While the company uses performance-based stock awards tied to relative shareholder return, the sheer size of the compensation package — driven heavily by equity grants reported at their full award value — is difficult to justify when shareholders have experienced devastating losses far worse than most peers. The pay-for-performance alignment check fails because variable pay appears above benchmark levels while the company significantly underperformed its own disclosed peer group by more than the 20-percentage-point threshold required to trigger a No vote.

KPMG LLP has audited Five9 since 2012, giving it approximately 14 years of tenure — well below the 25-year threshold that would raise independence concerns. Non-audit fees (tax services) of $280,000 represent about 10% of audit fees of $2,709,000, far below the 50% threshold that would trigger a No vote. KPMG is a Big 4 firm appropriate for a company of Five9's size and complexity.