Crexendo (CXDO) CTO converts RSUs to stock and withholds shares for tax payments

Rhea-AI Filing Summary

Crexendo, Inc. Chief Technology Officer David Tzat-kin Wang reported routine equity award activity. On March 4 and 5, 2026, he exercised restricted stock units, receiving a total of 5,001 shares of common stock at a price of $0.00 per share through derivative conversions.

To cover associated payroll taxes, the company withheld 868 shares at $6.47 on March 4 and 1,193 shares at $6.88 on March 5, which footnotes state do not represent sales by him. After these transactions, he directly owned 650,431 shares of Crexendo common stock. Footnotes also describe RSU grants that vest quarterly over 12 quarters beginning in 2024, 2025, and 2026, contingent on continued employment, with shares delivered upon vesting.

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

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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^*

Wang David Tzat-kin

(Last) (First) (Middle)

8910 UNIVERSITY CENTER LANE

STE 400

(Street)

SAN DIEGO CA 92122

(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 Technology Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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	06/01/2021		A		193,366(1)	A	$0	647,491	I	By Idaltu LLC
Common Stock	03/04/2026		M		2,084	A	$0(2)	649,575	D
Common Stock	03/04/2026		F(3)		868	D	$6.47	648,707	D
Common Stock	03/05/2026		M		2,917	A	$0(2)	651,624	D
Common Stock	03/05/2026		F(5)		1,193	D	$6.88	650,431	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(2)	03/04/2026		M			2,084	(4)	(4)	Common Stock	2,084	$0	16,667	D
Restricted Stock Units	$0(2)	03/05/2026		M			2,917	(6)	(6)	Common Stock	2,917	$0	11,667	D
Restricted Stock Units	$0(2)	03/04/2026		M		25,000		(7)	(7)	Common Stock	25,000	$0	25,000	D

Explanation of Responses:

1. Shares are held indirectly through Idaltu LLC and were received upon the conversion of common stock in connection with the Crexendo's acquisition of NetSapiens on June 1, 2021.

2. Each RSU represents the right to receive, upon vesting, one share of CXDO common stock contingent on continued employment.

3. The Company withheld 868 shares of common stock for payment of the associated payroll taxes, using the closing stock price on March 4, 2026 of $6.47. This transaction does not represent a sale by the reporting person.

4. The RSUs will vest in equal quarterly installments over 12 quarters starting on June 4, 2025 until such time as the RSUs are 100% vested, subject to continuous employment. Shares will be delivered upon vesting.

5. The Company withheld 1,193 shares of common stock for payment of the associated payroll taxes, using the closing stock price on March 5, 2026 of $6.88. This transaction does not represent a sale by the reporting person.

6. The RSUs vest in equal quarterly installments over 12 quarters starting on June 5, 2024 until such time as the RSUs are 100% vested, subject to continuous employment. Shares will be delivered upon vesting.

7. The RSUs will vest in equal quarterly installments over 12 quarters starting on June 4, 2026 until such time as the RSUs are 100% vested, subject to continuous employment. Shares will be delivered upon vesting

	/s/ David Tzat-kin Wang	03/06/2026
	** 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 transactions did Crexendo (CXDO) report for CTO David Tzat-kin Wang?

The filing shows CTO David Tzat-kin Wang exercised restricted stock units into 5,001 shares of common stock on March 4 and 5, 2026. These were derivative exercises at $0.00 per share, reflecting equity compensation vesting rather than open-market purchases.

Did Crexendo (CXDO) CTO David Wang sell any shares in this Form 4?

The Form 4 indicates no open-market sales by David Wang. The company withheld 868 and 1,193 shares on March 4 and 5, 2026, respectively, solely to pay payroll tax liabilities, and footnotes clarify these withholdings do not represent sales by him.

How many Crexendo (CXDO) common shares does the CTO own after these transactions?

After the reported transactions, CTO David Tzat-kin Wang directly owned 650,431 shares of Crexendo common stock. This figure reflects the net result of RSU conversions into common shares and the share withholdings used to satisfy tax obligations on March 4 and 5, 2026.

What were the tax-withholding share prices in the Crexendo (CXDO) Form 4?

The company withheld shares to cover taxes using market prices of $6.47 per share on March 4, 2026 and $6.88 per share on March 5, 2026. Footnotes state these withholding transactions do not constitute sales by the Crexendo CTO.

How do Crexendo (CXDO) CTO David Wang’s RSUs vest according to the filing?

Footnotes explain multiple RSU awards will vest in equal quarterly installments over 12 quarters, starting on June 5, 2024, June 4, 2025, and June 4, 2026. Vesting is contingent on continuous employment, with one share of CXDO common stock delivered per vested RSU.

What indirect holdings related to Crexendo (CXDO) are mentioned in the Form 4?

The filing notes 193,366 shares of Crexendo common stock are held indirectly through Idaltu LLC. A footnote states these shares were received upon the conversion of common stock tied to Crexendo’s acquisition of NetSapiens on June 1, 2021.