Crexendo (CXDO) CEO Jeffrey Korn Receives RSUs; 278 Converted, 68 Withheld

What Happened

• Jeffrey G. Korn, CEO of Crexendo, had 278 restricted stock units (RSUs) convert into common shares on August 4, 2026. The filing shows an acquisition of 278 shares via exercise/conversion (transaction code M) with a $0.00 exercise price.
• To cover payroll taxes, the company withheld 68 of those shares (transaction code F) using the closing stock price of $7.47 on Aug 4, 2026, equal to about $508. The filing notes the withholding is not a sale by the reporting person.

Key Details

• Transaction date: August 4, 2026; Form 4 filed August 6, 2026 (filed promptly).
• Primary transactions recorded: conversion/exercise of 278 RSUs (M) and tax-withholding of 68 shares (F) at $7.47 (withheld value ≈ $508).
• Footnotes: Each RSU converts to one share upon vesting (F1). The RSUs vest in equal monthly installments over 36 months beginning March 4, 2026; shares are delivered upon vesting (F3). The company withheld 68 shares to satisfy payroll taxes; this withholding does not represent an open-market sale by the insider (F2).
• Shares owned after the transaction: not specified in the reported entries.

Context

• This was a compensation-related conversion of RSUs (not an open-market purchase or sale). Such conversions are routine executive compensation events rather than directional bets on the stock.
• Transaction codes: M = exercise/conversion of a derivative (here, RSUs); F = shares withheld to cover tax obligations.