Crexendo CFO Vincent Ron Receives RSUs; Shares Withheld for Taxes

What Happened

• Vincent Ron, Chief Financial Officer of Crexendo, received a total of 1,666 shares as RSUs vested (recorded as derivative conversions). The vesting/conversion occurred on Aug 25 and Aug 27, 2026 (278, 277 and 1,111 shares on those dates).
• To satisfy payroll tax obligations, the company withheld 707 shares in total (118 + 118 + 471). Withholdings were valued at the closing prices used by the company: $6.31 on Aug 25 (118 shares withheld twice, $745 each) and $6.42 on Aug 27 (471 shares withheld, $3,024). Total withholding value ≈ $4,514.
• These transactions are vesting/settlement of RSUs (no out‑of‑pocket exercise price) rather than open‑market purchases or discretionary sales.

Key Details

• Transaction dates: Aug 25, 2026 and Aug 27, 2026.
• Conversions/vests (code M): 278, 277 and 1,111 RSU shares converted to common stock (total 1,666).
• Tax withholdings (code F): 118, 118 and 471 shares withheld; prices used were $6.31 (Aug 25) and $6.42 (Aug 27). Total withholding value ≈ $4,514.
• Footnotes: RSUs represent the right to receive one share upon vesting (F1). Vesting schedules referenced: monthly over 36 months starting Mar 25, 2025; Oct 25, 2025; and June 27, 2026 (F4–F6). Withholding transactions do not represent an open‑market sale by the reporting person (F2, F3).
• Filing timeliness: Report filed Aug 27, 2026 for transactions on Aug 25 and Aug 27 — appears to be filed within the standard Form 4 timeframe (not marked late).

Context

• These were RSU vesting events (derivative conversions). The company withheld shares to cover payroll taxes (a common, administrative action) — often reported as "disposals" for tax withholding but do not indicate the insider sold shares on the market.
• Net effect to the insider: received 1,666 shares, had 707 withheld for taxes, resulting in a net increase of 959 shares (assuming no other undisclosed transactions).