Crexendo (CXDO) 10% Owner Steven G. Mihaylo Receives 10,000-Share Award

What Happened Steven G. Mihaylo, a reported 10% owner of Crexendo, Inc. (CXDO), was granted a derivative award for 10,000 shares on 2026-03-04 at an exercise/acquisition value of $6.47 per share, for a total value of $64,700. The Form 4 was filed on 2026-03-06. This transaction is an award/grant (coded "A") rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-04; Filing date: 2026-03-06 (appears timely; Form 4s are typically required within two business days).
• Instrument/price: Derivative award of 10,000 shares at $6.47 each — total indicated value $64,700.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnote: Award vests in 36 equal monthly installments beginning 2026-04-04 (F1).
• Transaction code: A = Grant/award/other acquisition.

Context This was a grant of derivative securities (likely stock options or restricted units) that will vest monthly over three years, meaning the shares are not immediately available for sale. As a 10% owner, Mihaylo is a significant insider required to report under Section 16; awards to insiders are common and do not by themselves indicate a buy/sell signal.