Crexendo Inc SEC Filings

Crexendo, Inc. (CXDO) filed its definitive proxy for the 2025 Annual Meeting to be held on December 2, 2025 at 2:00 p.m. local time at company headquarters in Tempe, AZ. Stockholders of record as of October 6, 2025 may vote on four items: electing six directors, advisory approval of executive compensation, an advisory vote on the frequency of that advisory vote, and ratifying Urish Popeck & Co., LLC as independent auditor for the year ending December 31, 2025.

The Board recommends voting FOR all proposals. The slate includes five Class I directors for terms ending in 2027 and one Class II director for a term ending in 2026. As of the record date, 30,701,950 shares of common stock were outstanding, with approximately 7,205 holders. The proxy details governance practices, committee structures, director compensation, and 2024 executive pay, including performance-based programs and annual bonuses tied to revenue and adjusted EBITDA targets.

Beneficial ownership disclosures show all current directors and executive officers as a group holding 47.2%, and Steven G. Mihaylo at 37.2%. The CEO letter notes surpassing 6 million users and maintaining GAAP profitability for the eighth consecutive quarter in Q2 2025.

Jeffery G. Korn, Chief Executive Officer of Crexendo, Inc. (CXDO), reported changes in beneficial ownership on September 25, 2025. The filing shows the grant and receipt of restricted stock units (RSUs): 10,000 RSUs were acquired and 277 RSUs were reported as acquired the same date. Each RSU represents the right to one share of CXDO common stock upon vesting. The company withheld 68 shares to satisfy payroll taxes using the closing price of $6.50 on September 25, 2025; the filing notes this withholding does not represent a sale by the reporting person. The tables list beneficial ownership figures following the transactions, including 250,047 shares and reported derivative holdings of 10,000 RSUs and 8,057 RSU-related underlying shares as shown in the form. Vesting schedules are disclosed: one 10,000-RSU grant vests in equal monthly installments over 36 months starting October 25, 2025; another series vests in equal monthly installments over 36 months starting March 25, 2025, with shares delivered upon vesting.

Crexendo, Inc. (CXDO) Chief Financial Officer Ron Vincent reported equity award and related share withholding on September 25, 2025. The filing shows the grant of 10,000 restricted stock units (RSUs) that vest monthly over 36 months and represent the right to one share each upon vesting. The company also recorded a 277-share issuance and a withholding of 76 shares to cover payroll taxes at a closing price of $6.50. Following the reported transactions, Mr. Vincent beneficially owned 190,482 shares of common stock (direct) and held 10,000 RSUs plus other RSUs totaling 8,057 shares subject to vesting.

Douglas Walter Gaylor, identified as the company's Chief Operating Officer, reported a sale of 10,000 shares of Crexendo, Inc. (CXDO) on 09/11/2025 at a price of $6.7601 per share. After this transaction Mr. Gaylor beneficially owned 238,531 shares as a direct owner. The filing states the sale was made under a Rule 10b5-1(c) trading plan established on 12/11/2024, and that at the time the plan was entered he was not aware of material nonpublic information.

Insider Form 4 summary: Crexendo, Inc. (CXDO) Chief Technology Officer David T. Wang reported receipt of restricted stock units (RSUs) and withholding of shares for payroll taxes in early September 2025. On 09/04/2025 he was granted 2,083 RSUs and on 09/05/2025 he was granted 2,917 RSUs; each RSU converts to one share upon vesting. The company withheld 1,058 shares on 09/04/2025 at a closing price of $6.49 and 1,482 shares on 09/05/2025 at $6.59 to satisfy payroll tax obligations; these withholdings are not sales by the reporting person. Following the reported transactions, Mr. Wang beneficially owned 453,147 shares as of 09/05/2025, held directly. The RSUs vest in equal quarterly installments over 12 quarters from their respective start dates, contingent on continued employment.

Anand Buch, Chief Strategy Officer of Crexendo, Inc. (CXDO), reported restricted stock unit (RSU) activity and related share withholdings on September 4–5, 2025. The filing shows grants of 2,083 RSUs on 09/04/2025 and 4,167 RSUs on 09/05/2025, each with $0 exercise price and vesting in equal quarterly installments over 12 quarters subject to continued employment. The company withheld 1,218 shares on 09/04/2025 and 1,959 shares on 09/05/2025 to cover payroll taxes using closing prices of $6.49 and $6.59. Following these transactions, Mr. Buch beneficially owned 563,042 shares of common stock and 25,000 RSUs.

Jon Brinton, Chief Revenue Officer of Crexendo, Inc. (CXDO), reported insider transactions on Form 4 for September 4–5, 2025. On each date he was credited with 2,917 restricted stock units (RSUs) (code M) with a $0 per-share conversion, representing rights to receive one share per RSU upon vesting. The filings show the company withheld 769 shares on September 4 for payroll taxes using a closing price of $6.49 and withheld 769 shares on September 5 using a closing price of $6.59; the filings state these withholdings did not represent sales by the reporting person.

The RSUs described vest in equal quarterly installments over 12 quarters (two separate grant schedules are disclosed) and are contingent on continued employment. Following the reported transactions, the reported beneficially owned common shares moved between the ranges shown on the form (e.g., 115,054 and 116,433 in the disclosure lines).

Vincent Ron, Chief Financial Officer of Crexendo, Inc. (CXDO), reported restricted stock unit (RSU) awards and related withholdings. The filing shows 5,000 RSUs granted on 09/04/2025 and 4,167 RSUs granted on 09/05/2025; each RSU converts to one share upon vesting. The company withheld 1,368 shares on 09/04/2025 and 1,140 shares on 09/05/2025 to cover payroll taxes at closing prices of $6.49 and $6.59, respectively. Following the reported transactions, Mr. Ron beneficially owned 191,345 shares (after the 09/05 awards) and held 50,000 and 25,000 underlying shares attributable to the two RSU grant pools, which vest quarterly over 12 quarters subject to continued employment.

Jeffrey G. Korn, CEO of Crexendo, Inc. (CXDO), reported grants and vesting of restricted stock units (RSUs) and withholding for taxes. On 09/04/2025 and 09/05/2025 Mr. Korn was issued 5,000 RSUs on each date (total 10,000) that vest over quarterly installments; each RSU converts to one share upon vesting. The Company withheld 1,218 shares on each of 09/04/2025 and 09/05/2025 to cover payroll taxes at closing prices of $6.49 and $6.59 respectively. After the reported transactions, Mr. Korn beneficially owned 250,988 shares on 09/05/2025, including 50,000 and 30,000 underlying shares noted for separate RSU grants.