Crexendo CEO receives 1,667 shares as awards vest

Q: Why were CXDO shares withheld from Jeffrey G. Korn's vesting transactions?

Crexendo withheld 68 shares in each of two September 25, 2026 transactions and 271 shares on September 27, 2026 to pay associated payroll taxes, using the closing stock price of $6.09 on each date. The footnotes state the withholdings do not represent sales by Jeffrey G. Korn.

Payroll-tax withholding accompanied the vesting, using the reported $6.09 closing stock price on September 25 and 27, 2026.

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Form Type

Rhea-AI Filing Summary

Crexendo, Inc. CEO Jeffrey G. Korn reported RSU vesting that delivered 1,667 shares of common stock: 278 shares in each of two transactions on September 25, 2026, and 1,111 shares on September 27, 2026. The company withheld 68 shares in each September 25 transaction and 271 shares on September 27 for associated payroll taxes; the footnotes state these were not sales by Korn. The withholdings used the $6.09 closing stock price on both dates.

Insider Trade Summary

1,667 shares exercised/converted

Exercise 9 txns

Insider KORN JEFFREY G

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units ^{F1, F6}	1,111	$0.00	$0.00
Exercise	Common Stock ^F1	1,111	$0.00	$0.00
Tax Withholding	Common Stock ^F3	271	$6.09	$2K
Exercise	Restricted Stock Units ^{F1, F4}	278	$0.00	$0.00
Exercise	Restricted Stock Units ^{F1, F5}	278	$0.00	$0.00
Exercise	Common Stock ^F1	278	$0.00	$0.00
Tax Withholding	Common Stock ^F2	68	$6.09	$414.12
Exercise	Common Stock ^F1	278	$0.00	$0.00
Tax Withholding	Common Stock ^F2	68	$6.09	$414.12

Holdings After Transaction: Restricted Stock Units — 46,949 contracts (Direct); Common Stock — 238,855 shares (Direct)

Footnotes (6)

F1. Each RSU represents the right to receive, upon vesting, one share of CXDO common stock contingent on continued employment.
F2. The Company withheld 68 shares of common stock for payment of the associated payroll taxes, using the closing stock price on September 25, 2026 of $6.09. This transaction does not represent a sale by the reporting person.
F3. The Company withheld 271 shares of common stock for payment of the associated payroll taxes, using the closing stock price on September 27, 2026 of $6.09. This transaction does not represent a sale by the reporting person.
F4. The RSUs will 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.
F5. The RSUs will vest in equal monthly installments over 36 months starting on October 25, 2025 until such time as the RSUs are 100% vested, subject to continuous employment. Shares will be delivered upon vesting
F6. The RSUs will vest in equal monthly installments over 36 months starting on June 27, 2026 until such time as the RSUs are 100% vested, subject to continuous employment. Shares will be delivered upon vesting.

Key Figures

Shares delivered upon RSU vesting: 1,667 shares Shares delivered upon RSU vesting: 1,111 shares Shares delivered upon RSU vesting: 278 shares each +3 more

6 metrics

Shares delivered upon RSU vesting 1,667 shares Three reported RSU vesting transactions

Shares delivered upon RSU vesting 1,111 shares September 27, 2026

Shares delivered upon RSU vesting 278 shares each Each of two reported transactions on September 25, 2026

Shares withheld for payroll taxes 271 shares September 27, 2026

Shares withheld for payroll taxes 68 shares each Each of two reported transactions on September 25, 2026

Closing stock price $6.09 per share Price used for payroll-tax withholding on September 25 and September 27, 2026

Key Terms

Restricted Stock Units, vesting, payroll taxes

3 terms

Restricted Stock Units financial

"Each RSU represents the right to receive, upon vesting"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

vesting financial

"The RSUs will vest in equal monthly installments over 36 months"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

payroll taxes financial

"withheld 68 shares of common stock for payment of the associated payroll taxes"

FAQ

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

Why were CXDO shares withheld from Jeffrey G. Korn's vesting transactions?

Crexendo withheld 68 shares in each of two September 25, 2026 transactions and 271 shares on September 27, 2026 to pay associated payroll taxes, using the closing stock price of $6.09 on each date. The footnotes state the withholdings do not represent sales by Jeffrey G. Korn.

What vesting schedule applied to Jeffrey G. Korn's CXDO RSUs?

The RSUs tied to the September 25, 2026 transactions vest in equal monthly installments over 36 months beginning March 25, 2025 and October 25, 2025, respectively. The RSUs tied to the September 27 transactions vest in equal monthly installments over 36 months beginning June 27, 2026. Each schedule is subject to continuous employment, and shares are delivered upon vesting.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 09/29/2026 - 06:14 PM Accepted by SEC EDGAR 09/29/2026 - 06:13 PM

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

ARIZONA

85288

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	09/25/2026		M		278	A	$0⁽¹⁾	237,873	D
Common Stock	09/25/2026		F⁽²⁾		68	D	$6.09	237,805	D
Common Stock	09/25/2026		M		278	A	$0⁽¹⁾	238,083	D
Common Stock	09/25/2026		F⁽²⁾		68	D	$6.09	238,015	D
Common Stock	09/27/2026		M		1,111	A	$0⁽¹⁾	239,126	D
Common Stock	09/27/2026		F⁽³⁾		271	D	$6.09	238,855	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	$0⁽¹⁾	09/25/2026		M			278	⁽⁴⁾	⁽⁴⁾	Common Stock	278	$0	4,724	D
Restricted Stock Units	$0⁽¹⁾	09/25/2026		M			278	⁽⁵⁾	⁽⁵⁾	Common Stock	278	$0	6,668	D
Restricted Stock Units	$0⁽¹⁾	09/27/2026		M			1,111	⁽⁶⁾	⁽⁶⁾	Common Stock	1,111	$0	35,557	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 September 25, 2026 of $6.09. This transaction does not represent a sale by the reporting person.

3. The Company withheld 271 shares of common stock for payment of the associated payroll taxes, using the closing stock price on September 27, 2026 of $6.09. This transaction does not represent a sale by the reporting person.

4. The RSUs will 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.

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

6. The RSUs will vest in equal monthly installments over 36 months starting on June 27, 2026 until such time as the RSUs are 100% vested, subject to continuous employment. Shares will be delivered upon vesting.

	/s/ Jeffery G. Korn	09/29/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR