KORN JEFFREY G 4

What Happened

• Jeffrey G. Korn, CEO of Crexendo, had RSUs convert to common stock on Feb 25, 2026 (reported as derivative conversions, code M). Two 278-share tranches (556 shares total) were recorded as acquired at $0.00 (RSU vesting). The company withheld 82 and 83 shares to cover payroll taxes (code F) at the closing price of $5.84, totaling about $964. The withholding is a tax payment, not an open-market sale; net shares delivered to Korn were 391 (556 vested − 165 withheld).

Key Details

• Transaction date: February 25, 2026; Form 4 filed Feb 27, 2026 (timely).
• Reported entries: M = exercise/conversion of derivative (RSU vesting); F = withholding for tax liability.
• Shares acquired via vesting: two tranches of 278 shares (556 total).
• Shares withheld for taxes: 82 and 83 shares (165 total) at $5.84/share; reported cash value withheld ≈ $964.
• Net shares delivered: 391 (556 − 165). Shares owned after transaction: not reported on the Form 4.
• Footnotes: Each RSU equals one share; the RSU programs vest monthly over 36 months (start dates Mar 25, 2025 and Oct 25, 2025) and are subject to continued employment. Footnotes confirm the withholding was for payroll taxes and not a sale.

Context

• These entries reflect routine RSU vesting and tax withholding (a non-market transaction), not an open-market sale or purchase. Derivative "disposed" lines in the filing reflect conversion/cancellation of the RSU interests upon vesting. Such vesting is compensation-related and does not, by itself, imply insider buying or selling sentiment.