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Crexendo (CXDO) CEO converts RSUs and covers taxes with shares

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

Rhea-AI Filing Summary

Crexendo, Inc. Chief Executive Officer Jeffrey G. Korn reported routine equity compensation activity involving restricted stock units (RSUs) and related tax withholding. The filing shows exercises of RSUs into common stock alongside dispositions where the company withheld shares to cover payroll tax obligations at prices of $6.19 and $6.82 per share. Footnotes clarify these tax-withholding transactions do not represent open-market sales by the executive.

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 Restricted Stock Units 277 $0.00 --
Exercise Common Stock 278 $0.00 --
Tax Withholding Common Stock 68 $6.19 $420.92
Exercise Common Stock 277 $0.00 --
Tax Withholding Common Stock 67 $6.82 $456.94
Exercise Common Stock 277 $0.00 --
Tax Withholding Common Stock 68 $6.82 $463.76
Holdings After Transaction: Restricted Stock Units — 9,445 shares (Direct, null); Common Stock — 248,054 shares (Direct, null)
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 April 4, 2026 of $6.19. This transaction does not represent a sale by the reporting person. The Company withheld 67 shares of common stock for payment of the associated payroll taxes, using the closing stock price on April 25, 2026 of $6.82. This transaction does not represent a sale by the reporting person. The Company withheld 68 shares of common stock for payment of the associated payroll taxes, using the closing stock price on April 25, 2026 of $6.82. This transaction does not represent a sale by the reporting person. The RSUs will vest in equal monthly installments over 36 months starting on March 4, 2026 until such time as the RSUs are 100% vested, subject to continuous employment. Shares will be delivered upon vesting. 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. 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.
RSUs exercised into common stock 832 shares Total derivative exercises (M code) reported in transaction summary
Shares withheld for taxes 203 shares Tax-withholding dispositions (F code) in transaction summary
Tax withholding price (April 4, 2026) $6.19 per share Used to withhold 68 shares for payroll taxes per footnote
Tax withholding price (April 25, 2026) $6.82 per share Used to withhold 67 and 68 shares for payroll taxes
RSU vesting period 36 months Equal monthly installments from grant-specific start dates
Restricted Stock Units financial
"Each RSU represents the right to receive, upon vesting, one share"
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.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
derivative security financial
"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
vest in equal monthly installments financial
"The RSUs will vest in equal monthly installments over 36 months"
continuous employment financial
"subject to continuous employment. Shares will be delivered upon vesting"
Form 4 Insider Transactions: What Each Field Means →
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)
04/04/2026		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 Stock04/04/2026M278A$0(1)248,054D
Common Stock04/04/2026F(2)68D$6.19247,986D
Common Stock04/25/2026M277A$0(1)248,263D
Common Stock04/25/2026F(4)67D$6.82248,196D
Common Stock04/25/2026M277A$0(1)248,473D
Common Stock04/25/2026F(6)68D$6.82248,405D
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)04/04/2026M278 (7) (7)Common Stock278$09,445D
Restricted Stock Units$0(1)04/25/2026M277 (8) (8)Common Stock277$06,113D
Restricted Stock Units$0(1)04/25/2026M277 (9) (9)Common Stock277$08,057D
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 April 4, 2026 of $6.19. This transaction does not represent a sale by the reporting person.
4. The Company withheld 67 shares of common stock for payment of the associated payroll taxes, using the closing stock price on April 25, 2026 of $6.82. This transaction does not represent a sale by the reporting person.
6. The Company withheld 68 shares of common stock for payment of the associated payroll taxes, using the closing stock price on April 25, 2026 of $6.82. This transaction does not represent a sale by the reporting person.
7. The RSUs will vest in equal monthly installments over 36 months starting on March 4, 2026 until such time as the RSUs are 100% vested, subject to continuous employment. Shares will be delivered upon vesting.
8. 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.
9. 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.
/s/ Jeffery G. Korn04/28/2026
** 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

FAQ

What did Crexendo (CXDO) CEO Jeffrey Korn report in this Form 4?

Jeffrey Korn reported routine equity compensation activity, including exercises of restricted stock units into Crexendo common stock and share dispositions where the company withheld shares to pay payroll taxes. Footnotes state these withholding transactions do not represent open-market sales by the CEO.

Were any of the Crexendo (CXDO) CEO’s transactions open-market stock sales?

The filing indicates no open-market stock sales by the CEO. Dispositions coded as “F” reflect shares withheld by the company to satisfy payroll tax obligations, with footnotes explicitly stating these transactions do not represent sales by the reporting person in the market.

How many Crexendo (CXDO) shares were used for tax withholding in this filing?

The transaction summary shows tax withholding of 203 shares of Crexendo common stock. These shares were withheld by the company at closing stock prices of $6.19 and $6.82 per share to cover associated payroll tax liabilities tied to vesting or exercises.

What RSU activity did the Crexendo (CXDO) CEO report?

The CEO reported RSU-related exercises totaling 832 shares, converting restricted stock units into Crexendo common stock. Additional derivative entries show remaining RSU positions, with footnotes explaining that each RSU represents the right to receive one share upon vesting, contingent on continued employment with the company.

How do the Crexendo (CXDO) CEO’s RSUs vest over time?

Footnotes state certain RSU grants vest in equal monthly installments over 36 months, starting on March 4, 2026, March 25, 2025, and October 25, 2025. Shares of Crexendo common stock are delivered upon vesting, subject to the CEO’s continuous employment during the vesting period.