KORN JEFFREY G 4

What Happened Jeffrey G. Korn, CEO of Crexendo, had restricted stock units (RSUs) convert to common stock on January 25, 2026. Three tranches of 277 shares each vested (831 shares total). The company withheld 82 and 83 shares (165 shares total) to cover payroll taxes at the closing price of $7.45, which equals $611 and $618 respectively (total ≈ $1,229). The withheld shares were used for tax/payment of liabilities and do not represent an open‑market sale.

Key Details

• Transaction date: 2026-01-25; Form 4 filed: 2026-01-27 (appears timely).
• Vesting/conversion entries (derivative code M): three conversions of 277 shares @ $0.00 (831 shares total).
• Tax withholding (code F): 82 shares @ $7.45 = $611 and 83 shares @ $7.45 = $618 (165 shares withheld; total ≈ $1,229).
• Net shares delivered to Korn after withholding: 831 − 165 = 666 shares.
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: RSUs represent right to receive one share upon vesting (F1). Vesting schedules cited: monthly installments over 36 months starting March 25, 2025 (F3) and October 25, 2025 (F5). Withholding transactions do not represent a sale (F2, F4).

Context These entries reflect routine RSU vesting and payroll-tax withholding (a common, non‑market sale action). The derivative code “M” indicates conversion/exercise of a derivative (RSU conversion to common stock); the withholding (code “F”) is a tax/payment mechanism. Such withholding transactions are administrative and don’t necessarily signal insider sentiment.