CXDO Insider Filing: 277 RSUs Vested, 68 Shares Withheld for Taxes

Rhea-AI Filing Summary

On June 25, 2025, Crexendo, Inc. (ticker CXDO) filed a Form 4 reporting two insider transactions by Chief Executive Officer Jeffrey G. Korn.

• RSU Vesting (Code M): 277 restricted stock units converted into an equal number of common shares at no cost, increasing Korn’s direct ownership to 251,854 shares.
• Tax Withholding (Code F): The company retained 68 shares, valued at the June 25 closing price of $5.75, to satisfy payroll taxes. This was not an open-market sale.

After the net 209-share increase, Korn directly owns 251,786 shares and continues to hold 8,890 unvested RSUs that vest monthly over 36 months, beginning March 25, 2025, contingent on continued employment.

No cash changed hands, and the activity reflects routine equity-compensation mechanics rather than discretionary market purchases. While the additional ownership marginally aligns executive and shareholder interests, the share count involved is immaterial relative to Crexendo’s public float, suggesting limited market impact.

Positive

• CEO increased direct ownership by 209 shares, demonstrating continued alignment with shareholder interests and no open-market sales.

Negative

• Transaction size is immaterial, representing less than 0.1 % of shares outstanding, offering limited insight into executive sentiment.

Insights

Securities Analyst

TL;DR: Routine RSU vesting; CEO’s stake up 209 shares—directionally positive but financially immaterial.

The filing shows standard compensation events: 277 RSUs vested (Code M) and 68 shares withheld for taxes (Code F). Net ownership rises to 251,786 shares, while 8,890 RSUs remain unvested. Because no open-market purchase occurred and the net increase is less than 0.1 % of shares outstanding, the signal is weak from a sentiment standpoint and unlikely to influence valuation or liquidity. Overall, I classify the disclosure as neutral and not materially impactful for investors.

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)
06/25/2025

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	06/25/2025		M		277	A	$0(1)	251,854	D
Common Stock	06/25/2025		F(2)		68	D	$5.75	251,786	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)	06/25/2025		M			277	(3)	(3)	Common Stock	277	$0	8,890	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 $5.75. 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	06/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Crexendo (CXDO) CEO Jeffrey G. Korn acquire on 25-Jun-2025?

He received 277 common shares through RSU vesting; 68 were withheld for taxes, resulting in a net 209-share gain.

How many CXDO shares does the CEO now own after this Form 4?

Korn directly owns 251,786 shares and holds 8,890 unvested RSUs.

Was there an open-market sale of CXDO stock in this filing?

No. The 68-share disposition was strictly for tax withholding and not a market transaction.

What price was used for the tax withholding shares?

The company applied the $5.75 closing price on 25-Jun-2025.

What is the vesting schedule for the remaining RSUs?

They vest in equal monthly installments over 36 months starting 25-Mar-2025, subject to continued employment.