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Crexendo, Inc.·4

Mar 6, 10:56 AM ET

Brinton Jon 4

Research Summary

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Updated

Crexendo (CXDO) CRO Jon Brinton Receives RSU Award, Withholds Shares

What Happened

  • Jon Brinton, Chief Revenue Officer of Crexendo, received a grant of 40,000 restricted stock units (RSUs) on March 4, 2026 (award code A). In addition, RSUs converted/vested into 2,916 shares on March 4 and 2,917 shares on March 5 (exercise/conversion code M) — a total of 5,833 shares acquired at $0 per share. To cover payroll taxes, the company withheld 923 shares on March 4 (valued at $6.47/share, $5,972) and 843 shares on March 5 (valued at $6.88/share, $5,800). These withholdings are tax payments by share withholding (code F) and are not sales by the reporting person.
  • Net delivered shares from the reported vesting/conversions: 5,833 acquired − 1,766 withheld = 4,067 shares delivered to Brinton.

Key Details

  • Transaction dates and prices:
    • Mar 4, 2026: 2,916 shares converted/vested at $0; 923 shares withheld at $6.47 for taxes (value $5,972).
    • Mar 5, 2026: 2,917 shares converted/vested at $0; 843 shares withheld at $6.88 for taxes (value $5,800).
    • Mar 4, 2026: Grant of 40,000 RSUs (value listed $0 as RSUs).
  • Shares owned after transaction: Not stated in the filing.
  • Footnotes of note:
    • Each RSU represents the right to one share upon vesting; shares are delivered upon vesting (F1).
    • Withholdings used closing prices on the respective dates to calculate tax amounts; these withholdings do not represent open‑market sales by Brinton (F2, F4).
    • Multiple RSU awards/series have different vesting schedules: quarterly over 12 quarters starting June 5, 2024; June 4, 2025; and June 4, 2026 (F3, F5, F6).
  • Filing timeliness: Report filed Mar 6, 2026 (reporting period Mar 4–5, 2026); filing does not indicate lateness.

Context

  • These transactions are primarily awards and vesting of RSUs, with company share withholding to satisfy payroll taxes — a routine compensation event rather than an open‑market sale or purchase. The derivative code M indicates conversion/exercise of derivative securities (here, vesting/conversion of RSUs). Tax withholding via share retention is common and should not be interpreted as a directional insider sale.