After discussions here on meta over the past years and practical initiative in the year 2012, it has been researched and practically established that the tag php5 actually is not needed any longer and has passed it's lifetime.
All questions with the tag have been reviewed and the tag has been removed where appropriate and possible. The handful of questions that were locked due to being merged have also been corrected by diamond moderators.
This effort would not have been possible without the nice folks in the php chat.
Please establish a tag synonym so that new users who enter the tag php5 by accident don't tag their question with the "wrong" tag.