# EDGAR Filing Document

**Accession Number:** 0000823535
**File Stem:** 0000823535-26-000020
**Filing Date:** 2026-2
**Character Count:** 4164
**Document Hash:** bc87453fa0d613b8d080753362883964
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000823535-26-000020.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000823535-26-000020

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**EFFECTIVENESS DATE**: 20260227

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Variable Insurance Products Fund V
- **CENTRAL INDEX KEY:** 0000823535

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-17704
- **FILM NUMBER:** 26693209

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY BOSTON STREET TRUST
- **DATE OF NAME CHANGE:** 19951101

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SPARTAN U S TREASURY MONEY MARKET FUND
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY U S TREASURY MONEY MARKET FUND L P
- **DATE OF NAME CHANGE:** 19900828

## Series and Classes Contracts Data

### Strategic Income Portfolio (Series ID: S000017666)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Initial Class   | C000048809 |
| Investor Class  | C000048810 |
| Service Class   | C000048811 |
| Service Class 2 | C000048812 |

---

## Series and Classes Contracts Data

### Strategic Income Portfolio (Series ID: S000017666)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000048809 | Initial Class   |  |
| C000048810 | Investor Class  |  |
| C000048811 | Service Class   |  |
| C000048812 | Service Class 2 |  |

**Supplement to the Fidelity® Variable Insurance Products Strategic Income Portfolio Investor Class April 30, 2025 Prospectus**

*Effective February 28, 2026, Daniel Ushakov no longer serves as Co-Portfolio Manager of the fund.*

*It is expected that Mr. O'Neil will transition off the fund effective on or about September 30, 2026. Celso Munoz will become a Co-Lead Portfolio Manager for the fund effective January 1, 2026.*

Effective January 1, 2026, the following information supplements information found in the "Fund Summary" section under the "Portfolio Manager(s)" heading.

Celso Munoz (Co-Lead Portfolio Manager) has managed the fund since 2026.

Effective January 1, 2026, the following information supplements the biographical information found in the "Fund Management" section under the "Portfolio Manager(s)" heading.

Celso Munoz is Co-Lead Portfolio Manager of VIP Strategic Income Portfolio, which he has managed since 2026. He also manages other funds. Since joining Fidelity Investments in 2005, Mr. Munoz has worked as a research analyst and portfolio manager.

VIPSI-INV-PSTK-0226-111 1.924866.111 February 27, 2026

**Supplement to the Fidelity® Variable Insurance Products Strategic Income Portfolio Initial Class, Service Class, and Service Class 2 April 30, 2025 Prospectus**

*Effective February 28, 2026, Daniel Ushakov no longer serves as Co-Portfolio Manager of the fund.*

*It is expected that Mr. O'Neil will transition off the fund effective on or about September 30, 2026. Celso Munoz will become a Co-Lead Portfolio Manager for the fund effective January 1, 2026.*

Effective January 1, 2026, the following information supplements information found in the "Fund Summary" section under the "Portfolio Manager(s)" heading.

Celso Munoz (Co-Lead Portfolio Manager) has managed the fund since 2026.

Effective January 1, 2026, the following information supplements the biographical information found in the "Fund Management" section under the "Portfolio Manager(s)" heading.

Celso Munoz is Co-Lead Portfolio Manager of VIP Strategic Income Portfolio, which he has managed since 2026. He also manages other funds. Since joining Fidelity Investments in 2005, Mr. Munoz has worked as a research analyst and portfolio manager.

VIPSI-PSTK-0226-121 1.805596.121 February 27, 2026