KORN JEFFREY G 4

What Happened Jeffrey G. Korn, CEO of Crexendo, received vested restricted stock units (RSUs) that converted into 1,666 shares of CXDO common stock on June 25 and June 27, 2026. The company withheld 407 shares to cover payroll taxes (68 shares twice on 6/25 at $6.92 and 271 shares on 6/27 at $7.23), representing approximately $2,901. Using the closing prices applied for withholding, the gross value of the vested shares was roughly $11,873 and the net shares delivered to Korn were about 1,259.

Key Details

• Dates and prices: RSU vesting/conversion on 2026-06-25 (278 + 278 shares at $6.92) and 2026-06-27 (1,110 shares at $7.23).
• Withholding for taxes (not open-market sales): 68 shares withheld on each 6/25 vesting at $6.92 (reported as $471 each) and 271 shares withheld on 6/27 at $7.23 (reported as $1,959).
• Total vested: 1,666 shares; total withheld: 407 shares; net delivered ≈ 1,259 shares.
• Footnotes: F1–F6 explain these were RSUs (one share per RSU upon vesting), monthly vesting schedules for different grants, and that withheld shares pay payroll taxes (not sales).
• Filing: Form 4 filed 2026-06-30 for activity on 6/25–6/27 (filed five days after the earliest reported vesting date).

Context

• These entries reflect RSU vesting (derivative conversion) and company tax-withholding rather than an open-market sale or purchase. Transaction codes: M = exercise/conversion of derivative (vesting), F = tax withholding.
• Tax-withholding via share retention (sometimes called a "net share settlement") is routine and does not by itself signal a view on the company’s stock.
• RSUs vest subject to continued employment per the listed schedules; shares are delivered upon vesting.