Crexendo (CXDO) CEO Jeffrey Korn Receives RSU Shares

What Happened

• Jeffrey G. Korn, CEO of Crexendo, had restricted stock units (RSUs) vest and convert into common shares in late July 2026. A total of 1,666 shares were delivered to him (277 + 278 on July 25, and 1,111 on July 27). No cash exercise price was paid (conversion value $0).
• The company withheld 407 shares to cover payroll taxes (136 shares withheld on July 25 at $6.62 per share, and 271 shares withheld on July 27 at $6.92 per share), totaling about $2,775. These withholdings are not open-market sales by Korn.

Key Details

• Transaction dates and prices:
  • July 25, 2026: 277 and 278 RSU shares converted; 68 + 68 shares withheld at $6.62 (company closing price) — withholding amounts reported as $450 each.
  • July 27, 2026: 1,111 RSU shares converted; 271 shares withheld at $6.92 (company closing price) — withholding amount reported as $1,875.
• Net new shares received by Korn after withholding: 1,666 acquired − 407 withheld = 1,259 net shares.
• Shares owned after the transaction: not stated in the Form 4 provided.
• Filing: Form 4 filed July 28, 2026 (reporting period includes transactions on July 25 and July 27).
• Footnotes: RSUs convert to one share each upon vesting (F1). Withholding for payroll taxes is routine and not a market sale (F2, F3). Vesting schedules: the RSU grants vest in equal monthly installments over 36 months starting March 25, 2025; October 25, 2025; and June 27, 2026 (F4–F6).

Context

• These were RSU vesting/conversion transactions (derivative conversion, code M), not open-market purchases or voluntary sales by the insider. The withheld shares (code F) are standard tax-withholding and do not necessarily indicate a change in Korn’s view of the company.
• For retail investors: RSU vesting is a routine compensation event. Purchases by insiders can be more meaningful as bullish signals; these transactions primarily reflect compensation delivery and tax withholding.