CXDO CEO Converts 278 RSUs, Ownership 245,196 Shares – Form 4

Crexendo, Inc. (CXDO) – Form 4 insider filing CEO Jeffrey G. Korn converted 278 previously granted RSUs into common shares on 07/25/2025 (Code M, $0 exercise price).

Rhea-AI Filing Summary

Crexendo, Inc. (CXDO) – Form 4 insider filing

CEO Jeffrey G. Korn converted 278 previously granted RSUs into common shares on 07/25/2025 (Code M, $0 exercise price). To cover payroll taxes, the company withheld 68 shares at $5.89 per share (Code F), resulting in a net addition of 210 shares to Korn’s direct holdings. Post-transaction, he directly owns 245,196 common shares and retains 8,612 unvested RSUs. The RSUs vest monthly over 36 months beginning 03/25/2025, contingent on continued employment.

The activity reflects routine equity-award vesting and tax withholding, not an open-market trade. Given the small size relative to CXDO’s share count and Korn’s existing stake, the filing is unlikely to influence market perception or the company’s share float.

Insights

Securities Analyst

TL;DR: Routine RSU vesting; negligible market impact, neutral insider signal.

The Form 4 shows a standard award conversion by CEO Jeffrey Korn. No cash changed hands, and shares withheld for taxes are non-discretionary. Ownership rose modestly to 245,196 shares while 8,612 RSUs remain. The transaction neither indicates active insider accumulation nor disposal, so I view it as neutral. For investors, dilution is immaterial and there are no strategic insights. Impact: not impactful.

Insider Trade Summary

278 shares exercised/converted

Exercise 3 txns

Insider KORN JEFFREY G

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	278	$0.00	$0.00
Exercise	Common Stock	278	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	68	$5.89	$400.52

Holdings After Transaction: Restricted Stock Units — 8,612 contracts (Direct); Common Stock — 245,196 shares (Direct)

Footnotes (3)

1. F1. Each RSU represents the right to receive, upon vesting, one share of CXDO common stock contingent on continued employment.
2. F2. The Company withheld 68 shares of common stock for payment of the associated payroll taxes, using the closing stock price on June 25, 2025 of $5.89. This transaction does not represent a sale by the reporting person.
3. F3. The RSUs vest in equal monthly installments over 36 months starting on March 25, 2025 until such time as the RSUs are 100% vested, subject to continuous employment. Shares will be delivered upon vesting.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many CXDO shares did CEO Jeffrey Korn acquire in this Form 4?

He converted 278 RSUs to common shares, adding a net 210 shares after tax withholding.

What is Jeffrey Korn's total direct ownership after the transaction?

Korn now directly owns 245,196 CXDO common shares.

Were any shares sold on the open market?

No. The 68 shares shown as Code F were withheld by the company for taxes; no market sale occurred.

What derivative securities does the CEO still hold?

He retains 8,612 unvested RSUs that vest monthly through March 2028, subject to employment.

Does this filing signal insider buying or selling sentiment?

It is a routine vesting event; therefore, the filing is generally considered neutral regarding insider sentiment.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/31/2025 - 08:17 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

KORN JEFFREY G

(Last) (First) (Middle)

1225 W WASHINGTON ST

STE 213

(Street)

TEMPE AZ 85288

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Crexendo, Inc. [ CXDO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/25/2025		M		278	A	$0(1)	245,264	D
Common Stock	07/25/2025		F(2)		68	D	$5.89	245,196	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	$0(1)	07/25/2025		M			278	(3)	(3)	Common Stock	278	$0	8,612	D

Explanation of Responses:

1. Each RSU represents the right to receive, upon vesting, one share of CXDO common stock contingent on continued employment.

2. The Company withheld 68 shares of common stock for payment of the associated payroll taxes, using the closing stock price on June 25, 2025 of $5.89. This transaction does not represent a sale by the reporting person.

3. The RSUs vest in equal monthly installments over 36 months starting on March 25, 2025 until such time as the RSUs are 100% vested, subject to continuous employment. Shares will be delivered upon vesting.

	/s/ Jeffery G. Korn	07/31/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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