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CXDO CEO logs RSU settlements with tax withholdings at $6.40

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

Rhea-AI Filing Summary

Crexendo (CXDO) CEO Jeffery G. Korn reported routine RSU settlements on 10/25/2025. Two RSU tranches converted into common stock: 278 shares and 277 shares at $0 per the award terms.

The company withheld 68 shares in each case at $6.40 to cover payroll taxes; these were not open-market sales. Following the transactions, Korn held 250,398 shares directly.

Positive

  • None.

Negative

  • None.
Insider KORN JEFFREY G
Role Chief Executive Officer
Type Security Shares Price Value
Exercise Restricted Stock Units 278 $0.00 --
Exercise Restricted Stock Units 277 $0.00 --
Exercise Common Stock 278 $0.00 --
Tax Withholding Common Stock 68 $6.40 $435.20
Exercise Common Stock 277 $0.00 --
Tax Withholding Common Stock 68 $6.40 $435.20
Holdings After Transaction: Restricted Stock Units — 7,779 shares (Direct); Common Stock — 250,257 shares (Direct)
Footnotes (1)
  1. Each RSU represents the right to receive, upon vesting, one share of CXDO common stock contingent on continued employment. The Company withheld 68 shares of common stock for payment of the associated payroll taxes, using the closing stock price on October 25, 2025 of $6.40. This transaction does not represent a sale by the reporting person. 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. The RSUs 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.
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Form 4 Insider Transactions: What Each Field Means →
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)
10/25/2025
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 10/25/2025 M 278 A $0(1) 250,257 D
Common Stock 10/25/2025 F(2) 68 D $6.4 250,189 D
Common Stock 10/25/2025 M 277 A $0(1) 250,466 D
Common Stock 10/25/2025 F(2) 68 D $6.4 250,398 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) 10/25/2025 M 278 (3) (3) Common Stock 278 $0 7,779 D
Restricted Stock Units $0(1) 10/25/2025 M 277 (4) (4) Common Stock 277 $0 9,723 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 October 25, 2025 of $6.40. 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.
4. The RSUs 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.
/s/ Jeffery G. Korn 10/28/2025
** 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.
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.

Source: View Original Filing on SEC EDGAR

FAQ

What did CXDO’s CEO report in this Form 4?

He reported the settlement of restricted stock units (RSUs) into 278 and 277 common shares and related tax-withholding transactions.

How many shares were withheld for taxes and at what price?

The company withheld 68 shares per transaction using a closing price of $6.40 on 10/25/2025.

Were the tax withholdings sales by the reporting person?

No. The filing states the tax withholdings do not represent a sale by the reporting person.

What is the CEO’s direct ownership after these transactions?

Direct beneficial ownership is 250,398 shares after the reported transactions.

What are the vesting terms of the RSUs?

One grant vests monthly over 36 months starting 03/25/2025; another vests monthly over 36 months starting 10/25/2025.

What position does the reporting person hold at CXDO?

He is the Chief Executive Officer of Crexendo, Inc.

How many derivative RSUs remain after these transactions?

The filing shows 7,779 RSUs and 9,723 RSUs remaining, held directly.