Crexendo (CXDO) COO Douglas Gaylor Receives RSUs; Shares Withheld

What Happened

• Douglas Gaylor, Chief Operating Officer of Crexendo (CXDO), had restricted stock units (RSUs) convert to common shares in multiple vesting events: 278 shares on 2026-07-25, 277 shares on 2026-08-25 and 1,111 shares on 2026-08-27 — a total of 1,666 shares acquired (conversion reported as derivative exercise at $0.00). The company withheld a total of 456 shares to cover payroll taxes (two withholdings of 76 shares on 8/25 at $6.31 and one withholding of 304 shares on 8/27 at $6.42), representing aggregate withholding value of about $2,912. Net shares delivered to Gaylor after withholding were about 1,210 shares. These withholdings were tax/payroll-related and do not represent open‑market sales by the insider.

Key Details

• Transaction dates and prices:
  • 2026-07-25: 278 RSUs vested/conversion (acquired) at $0.00
  • 2026-08-25: 277 RSUs vested/conversion (acquired) at $0.00; two tax-withholding events of 76 shares each at $6.31 (each reported value $480)
  • 2026-08-27: 1,111 RSUs vested/conversion (acquired) at $0.00; tax-withholding of 304 shares at $6.42 (reported value $1,952)
• Total: 1,666 shares vested; 456 shares withheld for taxes; total withheld value ≈ $2,912; net ~1,210 shares delivered to the insider.
• Shares owned after the transactions: not disclosed in the Form 4 filing.
• Notable footnotes: these were RSU vesting events (each RSU = one share upon vesting). Footnotes indicate RSUs vest in equal monthly installments over 36 months from different grant start dates (Mar 25, 2025; Oct 25, 2025; Jun 27, 2026). Company withholding used the closing prices cited and the withholdings are payroll tax payments (not sales).
• Timeliness: The Form 4 was filed on 2026-08-27 and reports vesting events on 2026-07-25, 2026-08-25 and 2026-08-27; the July 25 transaction was included in this filing and appears to have been reported after the usual two‑business‑day window.

Context

• These transactions reflect RSU vesting and company share-withholding for taxes (a routine, non‑market sale event). This is not an open-market sale by the reporting person; it does not necessarily imply a change in the insider’s market view. For retail investors, purchases or open-market sales by insiders can be more informative about sentiment; tax-withholding on vested awards is standard administrative practice.