Crexendo (NASDAQ: CXDO) director nets 9,200 shares in option exercise

Rhea-AI Filing Summary

Crexendo, Inc. director and 10% owner Steven G. Mihaylo reported a net exercise of stock options and related share withholding. On January 14, 2026, he exercised incentive stock options to purchase 13,408 shares of Crexendo common stock at an exercise price of $2.25 per share. According to the footnote, he received 9,200 shares of common stock, while the company withheld 4,208 shares to cover the exercise price using the closing stock price of $7.17 on January 14, 2025.

After these transactions, Mihaylo directly owned 11,306,765 shares of Crexendo common stock. The footnote states that the share withholding “does not represent a sale” by the reporting person, meaning the reduction in shares was used solely to pay the option exercise cost rather than to sell shares into the market.

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

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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^*

MIHAYLO STEVEN 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/14/2026

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	01/14/2026		M		13,408	A	$2.25	11,310,973	D
Common Stock	01/14/2026		F(1)		4,208	D	$7.17	11,306,765	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
ISO Stock Options	$2.25	01/14/2026		M			13,408	03/12/2019	02/12/2026	Common Stock	13,408	$2.25	0	D

Explanation of Responses:

1. Represents a "net exercise" of outstanding stock options. The reporting person received 9,200 shares of common stock on net exercise of option to purchase 13,408 shares of common stock. The Company withheld 4,208 shares of common stock underlying the option for payment of the exercise price, using the closing stock price on January 14, 2025 of $7.17, This transaction does not represent a sale by the reporting person.

	/s/Steven G Mihaylo	01/14/2026
	** 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).
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FAQ

What insider transaction did Crexendo (CXDO) report on January 14, 2026?

Crexendo (CXDO) reported that director and 10% owner Steven G. Mihaylo exercised stock options for 13,408 shares of common stock on January 14, 2026, using a net exercise structure with share withholding.

How many Crexendo (CXDO) options did Steven G. Mihaylo exercise and at what price?

He exercised 13,408 incentive stock options to acquire Crexendo common stock at an exercise price of $2.25 per share.

How many Crexendo (CXDO) shares did Steven G. Mihaylo receive from the net exercise?

The footnote explains that he received 9,200 shares of Crexendo common stock, with 4,208 shares withheld by the company to pay the exercise price.

Did the reported Crexendo (CXDO) insider transaction involve a market sale of shares?

No. The footnote states that the transaction “does not represent a sale” by the reporting person; the withheld 4,208 shares were used to pay the option exercise cost.

How many Crexendo (CXDO) shares does Steven G. Mihaylo own after this Form 4 transaction?

Following the net option exercise and share withholding, he directly owned 11,306,765 shares of Crexendo common stock.

What is the role of Steven G. Mihaylo at Crexendo (CXDO)?

On this Form 4, he is identified as both a director and a 10% owner of Crexendo, Inc.