Crexendo (CXDO) CTO exercises RSUs, uses shares to cover tax

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Crexendo, Inc. Chief Technology Officer David Tzat-kin Wang reported compensation-related equity activity, not open-market trading. He acquired 7,083 shares of common stock through the conversion of restricted stock units (RSUs) and had 2,285 shares withheld by the company to cover payroll taxes.

The withheld shares were valued using closing stock prices of $8.93 on June 4, 2026 and $7.57 on June 5, 2026, and the filing states these transactions do not represent sales by Wang. After these transactions, he directly holds 606,360 shares of Crexendo common stock.

Insider Trade Summary

7,083 shares exercised/converted

Mixed 9 txns

Insider Wang David Tzat-kin

Role Chief Technology Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	2,083	$0.00	--
Exercise	Restricted Stock Units	2,083	$0.00	--
Exercise	Restricted Stock Units	2,917	$0.00	--
Exercise	Common Stock	2,083	$0.00	--
Tax Withholding	Common Stock	672	$8.93	$6K
Exercise	Common Stock	2,083	$0.00	--
Tax Withholding	Common Stock	672	$8.93	$6K
Exercise	Common Stock	2,917	$0.00	--
Tax Withholding	Common Stock	941	$7.57	$7K

Holdings After Transaction: Restricted Stock Units — 14,584 shares (Direct, null); Common Stock — 607,032 shares (Direct, null)

Footnotes (1)

Each RSU represents the right to receive, upon vesting, one share of CXDO common stock contingent on continued employment. The Company withheld 672 shares of common stock for payment of the associated payroll taxes, using the closing stock price on June 4, 2026 of $8.93. This transaction does not represent a sale by the reporting person. The Company withheld 672 shares of common stock for payment of the associated payroll taxes, using the closing stock price on June 4, 2026 of $8.93. This transaction does not represent a sale by the reporting person. The Company withheld 941 shares of common stock for payment of the associated payroll taxes, using the closing stock price on June 5, 2026 of $7.57. This transaction does not represent a sale by the reporting person. 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. 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. 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

RSU conversions: 7,083 shares Tax-withholding shares: 2,285 shares Closing price: $8.93/share +4 more

7 metrics

RSU conversions 7,083 shares Common stock acquired via RSU exercises

Tax-withholding shares 2,285 shares Shares withheld to pay payroll taxes

Closing price $8.93/share Value used for withholding on June 4, 2026

Closing price $7.57/share Value used for withholding on June 5, 2026

Shares held after transactions 606,360 shares Direct common stock ownership after reported activity

Tax-withholding transactions 3 entries Code F dispositions for payroll taxes

Derivative exercises 3 entries Code M exercises tied to RSUs

Key Terms

Restricted Stock Units, tax-withholding disposition, derivative exercise/conversion, payroll taxes, +1 more

5 terms

Restricted Stock Units financial

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

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 exercise/conversion financial

"Exercise or conversion of derivative security"

payroll taxes financial

"The Company withheld 672 shares of common stock for payment of the associated payroll taxes, using the closing stock price on June 4, 2026 of $8.93."

vesting financial

"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."

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.

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Form 4 Insider Transactions: What Each Field Means →

06/08/2026 - 05:45 PM

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^*

Wang David Tzat-kin

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Technology Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/04/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/04/2026		M		2,083	A	$0⁽¹⁾	607,032	D
Common Stock	06/04/2026		F⁽²⁾		672	D	$8.93	606,360	D
Common Stock	06/04/2026		M		2,083	A	$0⁽¹⁾	608,443	D
Common Stock	06/04/2026		F⁽³⁾		672	D	$8.93	607,771	D
Common Stock	06/05/2026		M		2,917	A	$0⁽¹⁾	610,688	D
Common Stock	06/05/2026		F⁽⁴⁾		941	D	$7.57	609,747	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	$0⁽¹⁾	06/04/2026		M			2,083	⁽⁵⁾	⁽⁵⁾	Common Stock	2,083	$0	14,584	D
Restricted Stock Units	$0⁽¹⁾	06/04/2026		M			2,083	⁽⁶⁾	⁽⁶⁾	Common Stock	2,083	$0	22,917	D
Restricted Stock Units	$0⁽¹⁾	06/05/2026		M			2,917	⁽⁷⁾	⁽⁷⁾	Common Stock	2,917	$0	8,750	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 672 shares of common stock for payment of the associated payroll taxes, using the closing stock price on June 4, 2026 of $8.93. This transaction does not represent a sale by the reporting person.

3. The Company withheld 672 shares of common stock for payment of the associated payroll taxes, using the closing stock price on June 4, 2026 of $8.93. This transaction does not represent a sale by the reporting person.

4. The Company withheld 941 shares of common stock for payment of the associated payroll taxes, using the closing stock price on June 5, 2026 of $7.57. This transaction does not represent a sale by the reporting person.

5. 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.

6. 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.

7. 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.

	/s/ David Tzat-kin Wang	06/08/2026
	** 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).
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 insider transactions did Crexendo (CXDO) report for its CTO?

Crexendo reported that CTO David Tzat-kin Wang acquired 7,083 common shares through RSU conversions and had 2,285 shares withheld for payroll taxes. The filing specifies these withholdings do not represent sales, and no open-market buying or selling occurred.

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

The Form 4 indicates no open-market sales by CTO David Wang. Instead, 2,285 shares were withheld by Crexendo to pay associated payroll taxes on vested RSUs, and the footnotes clearly state these tax-withholding transactions do not represent sales by the reporting person.

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

Following the reported RSU conversions and tax-withholding entries, CTO David Tzat-kin Wang directly holds 606,360 shares of Crexendo common stock. This figure reflects his position after the company’s share withholdings to satisfy payroll tax obligations on vested RSUs.

What RSU activity was disclosed for Crexendo CTO David Wang?

The filing shows multiple RSU conversions for CTO David Wang, totaling 7,083 underlying common shares. Footnotes explain that each RSU converts into one share upon vesting, contingent on continued employment, with shares delivered as vesting milestones are met over specified quarterly schedules.

At what prices did Crexendo value shares withheld for CTO payroll taxes?

Crexendo valued withheld shares using closing prices of $8.93 on June 4, 2026 and $7.57 on June 5, 2026. A total of 2,285 shares were withheld at those prices to satisfy payroll tax liabilities tied to CTO David Wang’s RSU vesting.