Williams David Roy 4

What Happened

• David Roy Williams, a director of Crexendo, exercised options on January 15, 2026 to purchase 10,000 shares at an exercise price of $2.25 per share (total exercise cost $22,500). The company withheld 3,049 of the underlying shares (valued using the $7.38 closing price on Jan 15) to cover the exercise/tax amount, so Williams received a net 6,951 shares. The withholding is a means of paying the exercise/tax obligation and is not reported as a sale by the insider.

Key Details

• Transaction date: 2026-01-15
• Option exercise: 10,000 shares @ $2.25 (total $22,500) — code M (exercise/conversion)
• Withholding/tax payment: 3,049 shares withheld using $7.38 closing price (value ≈ $22,502) — code F (tax/exercise payment)
• Net shares received: 6,951 common shares (6,951 × $7.38 ≈ $51,300 market value at close)
• Shares owned after transaction: not specified in the reported Form 4
• Filing: Form 4 filed 2026-01-22 for a 2026-01-15 transaction (filed late relative to the two-business-day standard)

Context

• This was a net (cashless-style) option exercise: the option holder exercised rights to 10,000 shares but had 3,049 shares withheld to cover the exercise price/taxes, resulting in the insider receiving fewer shares rather than selling shares on the open market. Such net exercises are common and reflect option exercise mechanics rather than an open-market purchase or sale signaling conviction.