Wang David Tzat-kin 4

What Happened

• David T. Wang, Chief Technology Officer of Crexendo, had restricted stock units (RSUs) convert/vest into common shares in early March 2026. A total of 30,001 shares were issued from derivative conversions (2,084 on 3/4/26; 25,000 on 3/4/26; 2,917 on 3/5/26).
• The company withheld 868 shares on 3/4/26 at $6.47/share ($5,616) and 1,193 shares on 3/5/26 at $6.88/share ($8,208) to cover associated payroll taxes (total withheld value $13,824). These withholdings are tax settlements by the company and are not open-market sales by Wang.
• Wang also holds 193,366 shares that were acquired indirectly in 2021 (Idaltu LLC) related to Crexendo’s acquisition of NetSapiens. After the March vesting and tax-withholding, Wang’s net increase was 27,940 shares, bringing total known holdings to about 221,306 shares (193,366 + 27,940).

Key Details

• Transaction dates/prices: 3/4/2026 (2,084 shares vest; withholding 868 shares @ $6.47); 3/4/2026 (25,000 shares vest); 3/5/2026 (2,917 shares vest; withholding 1,193 shares @ $6.88).
• Codes explained: M = exercise/conversion of derivative (RSU conversions); F = payment of tax liability via share withholding (not a sale).
• Footnotes: Shares held indirectly through Idaltu LLC from 2021 acquisition; RSUs vest in quarterly installments per company schedules (multiple grants with staggered vesting).
• Filing: Form 4 filed 03/06/2026 reporting transactions through early March; no indication of a 10b5-1 plan or late filing flag.

Context

• This was primarily vesting/conversion of RSUs (compensation being delivered), not open-market buying or selling. The withholding of shares to cover payroll taxes is a routine administrative step and does not necessarily indicate a deliberate sale by the insider. Purchases (which can be more bullish) did not occur — these were award vestings and conversions.