Gaylor Douglas Walter 4

What Happened

• Gaylor Douglas Walter, COO of Crexendo (CXDO), reported the vesting/conversion of restricted stock units (RSUs) into common stock on February 25, 2026. The filing shows conversions reported in 278-share lots (reported as exercise/conversion of a derivative, code M) and corresponding tax-withholding entries (code F). The company withheld 91 shares on two occasions to cover payroll taxes, using the February 25, 2026 closing price of $5.84 (each withholding valued at $531; total withheld ≈ $1,062). The withheld shares are not a market sale by the reporting person.

Key Details

• Transaction date: February 25, 2026; Form 4 filed February 27, 2026 (appears timely).
• Reported activity: multiple RSU conversions (exercise/conversion, code M) and payroll tax withholdings (code F).
• Withholding: 91 shares withheld twice = 182 shares withheld; withholding value reported using $5.84/share (≈ $1,062 total).
• Footnotes: RSUs represent the right to receive one share upon vesting (F1). Two separate grants have monthly vesting schedules (start dates noted in F3 and F5). Withholdings were for payroll taxes and “do not represent a sale” (F2, F4).
• Shares owned after the transactions: not specified in the provided excerpt.

Context

• RSU conversions are routine: vested RSUs convert to stock, and companies commonly withhold shares to cover taxes rather than selling on the open market. Transaction codes: M = exercise/conversion of a derivative (RSU conversion), F = tax withholding. These entries reflect vesting and tax withholding, not an open-market sale or a directional buy/sell signal by the insider.