Each Studio One license comes with 5 activations.
When a license is transferred all previous activations are wiped, therefore the new license-holder would still have 5 activations.
If you are selling or gifting your copy of Studio One, or you are the recipient of a gift or purchase for Studio One, the current registered user needs to fill out the form that is located in this knowledge base article:
Once that form is filled out by the CURRENT REGISTERED user, e-mail it to: email@example.com
NOTE: NFR (Not For Resale) licenses are non-transferable.