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Crexendo (NASDAQ: CXDO) CEO converts RSUs, uses shares to pay taxes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Crexendo, Inc. Chief Executive Officer Jeffrey G. Korn reported vesting of Restricted Stock Units that converted into 1,666 shares of common stock on July 25 and 27, 2026 at a $0.00 exercise price.

To cover payroll taxes, the company withheld a total of 407 shares valued at closing prices of $6.62 and $6.92 per share; these are expressly described as not representing sales by Korn. The RSUs vest in equal monthly installments over 36 months from 2025–2026 grant dates, contingent on continued employment.

Positive

  • None.

Negative

  • None.
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 $6.92 $2K
Exercise Restricted Stock Units F1, F4 277 $0.00 $0.00
Exercise Restricted Stock Units F1, F5 278 $0.00 $0.00
Exercise Common Stock F1 277 $0.00 $0.00
Tax Withholding Common Stock F2 68 $6.62 $450.16
Exercise Common Stock F1 278 $0.00 $0.00
Tax Withholding Common Stock F2 68 $6.62 $450.16
Holdings After Transaction: Restricted Stock Units — 50,282 shares (Direct); Common Stock — 223,940 shares (Direct)
Footnotes (6)
  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 July 25, 2026 of $6.62. This transaction does not represent a sale by the reporting person.
  3. F3. The Company withheld 271 shares of common stock for payment of the associated payroll taxes, using the closing stock price on July 27, 2026 of $6.92. This transaction does not represent a sale by the reporting person.
  4. 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.
  5. 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.
  6. 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
RSUs converted to common stock 1,666 shares Total underlying shares from RSU exercises on July 25 and 27, 2026
Shares withheld for payroll taxes 407 shares Total shares withheld at $6.62 and $6.92 per share to cover tax obligations
Tax withholding price on July 25, 2026 $6.62 per share Closing stock price used to value 68-share withholdings for payroll taxes
Tax withholding price on July 27, 2026 $6.92 per share Closing stock price used to value 271-share withholding for payroll taxes
RSU vesting period 36 months RSUs vest in equal monthly installments over 36 months from each grant’s start date
RSU vesting start dates March 25, 2025; October 25, 2025; June 27, 2026 Three RSU grants vest monthly over 36 months from these dates, subject to continuous employment
Restricted Stock Units financial
"Each RSU represents the right to receive, upon vesting, one share of CXDO common stock"
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.
withheld for payment of the associated payroll taxes financial
"The Company withheld 68 shares of common stock for payment of the associated payroll taxes"
closing stock price financial
"using the closing stock price on July 25, 2026 of $6.62"
continuous employment financial
"until such time as the RSUs are 100% vested, subject to continuous employment"

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What stock transactions did Crexendo (CXDO) CEO Jeffrey Korn report in this Form 4?
Jeffrey G. Korn reported vesting and conversion of Restricted Stock Units into 1,666 shares of Crexendo common stock. The conversions occurred on July 25 and 27, 2026 at a stated $0.00 exercise price, reflecting equity compensation rather than open-market purchases.

How many Crexendo (CXDO) shares did Jeffrey Korn receive from RSU vesting?
The disclosure shows RSU vesting that converted into 1,666 shares of Crexendo common stock. These arose from multiple RSU grants that vested on July 25 and 27, 2026, each RSU representing the right to receive one share upon vesting, subject to continued employment.

Were any Crexendo (CXDO) shares sold on the market in these CEO transactions?
No market sales are described; instead, 407 shares of common stock were withheld for payroll taxes. Footnotes state that the 68-share and 271-share withholding transactions, priced at $6.62 and $6.92, “do not represent a sale by the reporting person.”

How many Crexendo (CXDO) shares were withheld to pay Jeffrey Korn’s payroll taxes?
In total, 407 shares of Crexendo common stock were withheld to satisfy associated payroll tax obligations. The company valued these withholdings using closing stock prices of $6.62 on July 25, 2026 and $6.92 on July 27, 2026, as described in the footnotes.

What are the vesting terms of Jeffrey Korn’s Crexendo (CXDO) RSUs?
The RSUs vest in equal monthly installments over 36 months, subject to continuous employment. One grant begins vesting on March 25, 2025, another on October 25, 2025, and another on June 27, 2026, with shares delivered upon each monthly vesting date.

Are Jeffrey Korn’s Crexendo (CXDO) transactions reported under a Rule 10b5-1 trading plan?
The transactions are not affirmed as executed under a Rule 10b5-1 trading plan. The Rule 10b5-1 checkbox is not marked as applicable, and the accompanying footnotes describe routine RSU vesting and tax-withholding, without referencing any pre-arranged trading arrangement.
SEC Form 4
FORM 4UNITED 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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Executive Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/25/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock07/25/2026M277A$0(1)222,958D
Common Stock07/25/2026F(2)68D$6.62222,890D
Common Stock07/25/2026M278A$0(1)223,168D
Common Stock07/25/2026F(2)68D$6.62223,100D
Common Stock07/27/2026M1,111A$0(1)224,211D
Common Stock07/27/2026F(3)271D$6.92223,940D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units$0(1)07/25/2026M277 (4) (4)Common Stock277$05,280D
Restricted Stock Units$0(1)07/25/2026M278 (5) (5)Common Stock278$07,223D
Restricted Stock Units$0(1)07/27/2026M1,111 (6) (6)Common Stock1,111$037,779D
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 July 25, 2026 of $6.62. 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 July 27, 2026 of $6.92. 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. Korn07/28/2026
** Signature of Reporting PersonDate
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