Crexendo (CXDO) CTO Christopher Aaker Receives RSU Shares (Net 3,950)

What Happened

• Christopher Ryan Aaker, Crexendo's Chief Technology Officer, had restricted stock units (RSUs) vest and convert into common shares on Sept. 4–5, 2026. A total of 5,832 shares were delivered (no exercise price paid). The company withheld 1,882 shares to cover payroll taxes (reported at $6.01/share), representing roughly $11,311 in withholding. Net new shares added to Aaker’s holdings: 3,950.

Key Details

• Transaction types: M = conversion of derivative (RSU vesting); F = shares withheld for tax/payment of tax liability.
• Dates and prices: conversions on 2026-09-04 (2,083 + 2,083 shares) and 2026-09-05 (1,666 shares); tax withholding disposals of 672, 672 (9/4) and 538 (9/5) at $6.01 closing price. Withholding amounts reported ~$4,039, $4,039 and $3,233 respectively.
• Exercise price: $0.00 for the conversions (RSU settlements), i.e., no cash paid to acquire the vested shares.
• Shares owned after the transaction: not specified in the provided Form 4.
• Footnotes: RSUs represent rights to receive one share upon vesting (F1). The awards vest in equal quarterly installments over 12 quarters under different grant schedules (start dates in 2024, 2025, 2026 — F5–F7). Withheld shares were used to satisfy payroll taxes and do not represent an open‑market sale by the reporting person (F2–F4).
• Timeliness: Form 4 filed 2026-09-09 reporting transactions from 2026-09-04/05; this appears later than the typical 2-business-day Form 4 filing requirement.

Context

• These were RSU vesting events (conversion of derivatives to shares). The company’s withholding of shares to cover taxes is a common administrative/cashless mechanism and is not an open‑market sale reflecting the insider’s market intent.
• Such award vestings increase an insider’s holdings but do not necessarily indicate active buying or selling by the insider.