Gaylor Douglas Walter 4

What Happened
Douglas Walter Gaylor, Chief Operating Officer of Crexendo, had 278 restricted stock units (RSUs convert/vest) on July 4, 2026. The RSUs converted at no cash exercise price ($0). The company withheld 77 of those shares to cover payroll taxes using the closing price of $7.62 on July 4, 2026 (withheld value ≈ $587). After withholding, 201 shares were delivered to the reporting person.

Key Details

• Transaction date: July 4, 2026 (reported on Form 4 filed July 6, 2026 — timely filing).
• Transaction codes: M = exercise/conversion of derivative (278 shares), F = tax withholding (77 shares disposed for $7.62 each, $587 total).
• Shares involved: 278 RSUs converted; 77 withheld for taxes; net 201 shares issued to the insider.
• Shares owned after transaction: not disclosed in the provided filing details.
• Footnotes:
  • F1: Each RSU converts to one common share upon vesting, contingent on continued employment.
  • F2: 77 shares were withheld for payroll taxes at the closing price of $7.62; this withholding is not a market sale by the insider.
  • F3: The RSUs vest in equal monthly installments over 36 months starting Feb 4, 2026; shares are delivered upon vesting.

Context
This was a compensation-related vesting/conversion of RSUs, not an open-market purchase or discretionary sale. Withholding of shares to satisfy tax obligations is routine and does not necessarily reflect the insider’s view of the stock. RSU conversions involve no cash exercise price and are standard employee equity compensation.