Gaylor Douglas Walter 4

What Happened

• Gaylor Douglas Walter, COO of Crexendo, reported multiple derivative conversions/RSU vestings on January 25, 2026. The filing shows four 277-share conversions (4 × 277 = 1,108 shares) recorded under exercise/conversion of derivatives (code M). The company withheld 90 and 91 shares to cover payroll taxes (codes F), using the closing price of $7.45 on January 25, 2026, resulting in ~$1,349 withheld. The filing notes the withholdings are not open-market sales by the reporting person.

Key Details

• Transaction date: January 25, 2026; filing date (accession): January 27, 2026 (filed within required reporting window).
• Reported conversions: four entries of 277 shares each (total 1,108 shares) under code M.
• Tax withholding: 90 shares and 91 shares were withheld (181 shares total) at $7.45 per share (footnotes F2 and F4) for payroll taxes — ~$1,349 total.
• Net delivered (if all converted shares were delivered before withholding): 1,108 − 181 = 927 shares (filing does not explicitly state final net delivered number).
• Footnotes: F1–F5 explain these are RSUs that vest over monthly schedules (start dates March 25, 2025 and Oct 25, 2025), vesting subject to continued employment, and withheld shares are for taxes (not sales).
• No indication of an open-market sale or 10b5-1 plan; withholding transactions are routine tax settlements (code F).

Context

• These entries reflect RSU vesting/conversion rather than a purchase or open-market sale. Withholding of shares to cover payroll taxes is a common administrative step and is not a bearish trading signal by itself. The derivative code M simply indicates conversion/exercise of equity awards into shares; because withheld shares cover taxes (not sold on the market by the insider), the filing is primarily administrative.