CXDO Form 4: CEO receives 10,000 RSUs, monthly 36‑month vesting disclosed

Rhea-AI Filing Summary

Jeffery G. Korn, Chief Executive Officer of Crexendo, Inc. (CXDO), reported changes in beneficial ownership on September 25, 2025. The filing shows the grant and receipt of restricted stock units (RSUs): 10,000 RSUs were acquired and 277 RSUs were reported as acquired the same date. Each RSU represents the right to one share of CXDO common stock upon vesting. The company withheld 68 shares to satisfy payroll taxes using the closing price of $6.50 on September 25, 2025; the filing notes this withholding does not represent a sale by the reporting person. The tables list beneficial ownership figures following the transactions, including 250,047 shares and reported derivative holdings of 10,000 RSUs and 8,057 RSU-related underlying shares as shown in the form. Vesting schedules are disclosed: one 10,000-RSU grant vests in equal monthly installments over 36 months starting October 25, 2025; another series vests in equal monthly installments over 36 months starting March 25, 2025, with shares delivered upon vesting.

Insights

Securities Analyst

TL;DR: Insider received multi-year RSU grants, modest share withholding for taxes; impact appears routine and not immediately dilutive to market.

The Form 4 documents time‑based equity awards to the CEO totaling 10,277 RSUs granted or reported on 09/25/2025, with two distinct vesting schedules over 36 months. The company withheld 68 shares to cover payroll taxes at $6.50 per share. The filing provides specific post-transaction beneficial ownership levels (e.g., 250,047 common shares) and shows derivative holdings tied to RSUs. From a securities-disclosure perspective, the filing is complete and follows standard disclosure practice for executive equity compensation.

Corporate Governance Expert

TL;DR: Time‑based RSUs align long‑term pay with tenure; disclosure includes clear vesting schedules and tax withholding details.

The disclosure specifies that RSUs vest monthly over 36 months beginning on two separate start dates and that shares are delivered upon vesting. The report also explicitly states that withheld shares (68) were used to satisfy payroll tax obligations and were not a sale. These details meet typical governance transparency expectations for executive equity grants and clarify the nature and timing of potential future share issuance.

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).

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)
09/25/2025

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	09/25/2025		M		277	A	$0(1)	250,047	D
Common Stock	09/25/2025		F(2)		68	D	$6.5	249,979	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)	09/25/2025		A		10,000		(3)	(3)	Common Stock	10,000	$0	10,000	D
Restricted Stock Units	$0	09/25/2025		M			277	(4)	(4)	Common Stock	277	$0	8,057	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, 2025 of $6.50. This transaction does not represent a sale by the reporting person.

3. 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.

4. 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.

	/s/ Jeffery G. Korn	10/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Crexendo (CXDO) CEO Jeffery G. Korn report on Form 4?

He reported RSU acquisitions on 09/25/2025: 10,000 RSUs and 277 RSUs, withholding 68 shares for payroll taxes at $6.50.

How many RSUs did Jeffery G. Korn receive and when do they vest?

10,000 RSUs vest in equal monthly installments over 36 months starting October 25, 2025; another series vests monthly over 36 months starting March 25, 2025.

Did the Form 4 report any sales by the reporting person?

No sale was reported; the filing states the 68 shares withheld were for payroll taxes and do not represent a sale by the reporting person.

What beneficial ownership levels were reported after the transactions?

The filing lists 250,047 common shares and derivative-related figures including 10,000 RSUs and 8,057 underlying shares as shown in the Form 4 tables.

At what price were withheld shares valued for tax withholding?

$6.50 per share, the closing stock price on September 25, 2025, was used to determine the withholding.