Crexendo CEO exercises 16,110 RSUs, withholds shares
Crexendo CEO Jeffrey G. Korn converted RSUs into CXDO common stock, with shares withheld at $6.01 to cover payroll taxes rather than representing market sales.
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Form Type
4
Rhea-AI Filing Summary
Crexendo, Inc. (CXDO) reported that Chief Executive Officer Jeffrey G. Korn exercised restricted stock units into common stock on September 4 and September 5, 2026. These transactions converted multiple RSU grants into shares, and the company withheld a portion of the resulting common stock at $6.01 per share to pay associated payroll tax liabilities; the withholding entries are explicitly described as not representing sales by the reporting person.
Insider Trade Summary
16,110 shares exercised/converted
Exercise
12 txns
Insider
KORN JEFFREY G
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1, F9 | 5,000 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 5,000 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F5 | 1,218 | $6.01 | $7K |
| Exercise | Restricted Stock Units F1, F6 | 5,000 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F1, F7 | 277 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F1, F8 | 5,833 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 5,000 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 1,218 | $6.01 | $7K |
| Exercise | Common Stock F1 | 277 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F3 | 68 | $6.01 | $408.68 |
| Exercise | Common Stock F1 | 5,833 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F4 | 1,420 | $6.01 | $9K |
Holdings After Transaction:
Restricted Stock Units — 106,391 contracts (Direct);
Common Stock — 237,595 shares (Direct)
Holdings Before and After:
Restricted Stock Units, 122,501 to 106,391 contracts (Direct);
Common Stock, 225,409 to 237,595 shares (Direct)
Footnotes (9)
- F1. Each RSU represents the right to receive, upon vesting, one share of CXDO common stock contingent on continued employment.
- F2. The Company withheld 1,218 shares of common stock for payment of the associated payroll taxes, using the closing stock price on September 4, 2026 of $6.01. This transaction does not represent a sale by the reporting person.
- F3. The Company withheld 68 shares of common stock for payment of the associated payroll taxes, using the closing stock price on September 4, 2026 of $6.01. This transaction does not represent a sale by the reporting person.
- F4. The Company withheld 1,420 shares of common stock for payment of the associated payroll taxes, using the closing stock price on September 4, 2026 of $6.01. This transaction does not represent a sale by the reporting person.
- F5. The Company withheld 1,218 shares of common stock for payment of the associated payroll taxes, using the closing stock price on September 5, 2026 of $6.01. This transaction does not represent a sale by the reporting person.
- F6. The RSUs 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.
- F7. 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.
- F8. The RSUs 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.
- F9. 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.
Key Figures
Derivative exercises: 16,110 shares
Shares withheld for taxes: 3,924 shares
Closing stock price used for tax withholding: $6.01 per share
+3 more
6 metrics
Derivative exercises
16,110 shares
Total shares in derivative exercises (code M) reported in the transaction summary
Shares withheld for taxes
3,924 shares
Total shares used for payment of exercise price or tax liability (code F) in the transaction summary
Closing stock price used for tax withholding
$6.01 per share
Closing CXDO price on September 4 and 5, 2026, used to calculate withheld shares
Single tax-withholding tranche (Sept. 4, 2026)
1,420 shares
Common stock withheld for payroll taxes at $6.01 on September 4, 2026, as described in footnote F4
Quarterly RSU vesting schedule
12 quarters
Several RSU grants vest in equal quarterly installments over 12 quarters, subject to continuous employment
Monthly RSU vesting schedule
36 months
One RSU grant vests in equal monthly installments over 36 months starting on March 4, 2026
Key Terms
Restricted Stock Units, payroll taxes, vesting, continuous employment, +1 more
5 terms
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.
payroll taxes financial
"for payment of the associated payroll taxes, using the closing stock price"
vesting financial
"The RSUs vest in equal quarterly installments over 12 quarters"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
continuous employment financial
"until such time as the RSUs are 100% vested, subject to continuous employment"
withheld financial
"The Company withheld 1,218 shares of common stock for payment"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did CXDO CEO Jeffrey G. Korn report in this Form 4?
Jeffrey G. Korn reported exercises of restricted stock units into Crexendo common stock on September 4 and 5, 2026, along with related share withholdings used to cover payroll tax obligations rather than open-market sales.
Do the CXDO Form 4 tax withholdings represent sales by the CEO?
No. Each tax-withholding entry, including 1,218, 68, 1,420, and another 1,218 shares, is accompanied by a footnote stating, “This transaction does not represent a sale by the reporting person,” and reflects shares withheld for payroll taxes.
What are the vesting terms of Jeffrey G. Korn’s RSUs at Crexendo (CXDO)?
Footnotes describe several RSU grants vesting in equal installments over 12 quarters or 36 months, with schedules starting on June 4, 2025; March 4, 2026; June 4, 2026; and June 5, 2024, subject to continuous employment, with shares delivered upon vesting.
AI-generated analysis. How Rhea-AI works. Not financial advice.
