Crexendo (CXDO) COO Gaylor Receives RSUs; Shares Withheld

What Happened

• Crexendo COO Gaylor Douglas Walter had RSUs vest on Sept 4–5, 2026. The filing shows 15,276 shares were issued/converted (derivative code M) and the company withheld 4,179 shares to cover payroll taxes (code F), valued at about $25,116 using the $6.01 closing price. The withholding transactions are not sales by the reporting person.

Key Details

• Transaction dates: Sept 4, 2026 and Sept 5, 2026.
• Shares issued/converted (vested): 15,276 total (5,000; 277; 5,833; 4,166).
• Shares withheld for taxes: 4,179 total (1,368; 77; 1,594; 1,140).
• Withholding value: approximately $25,116 (based on $6.01 closing price on Sept 4–5, 2026).
• Net new shares received by the insider: 11,097 (15,276 vested − 4,179 withheld).
• Transaction codes: M = exercise/conversion of derivative (here, RSU vesting); F = company withholding to pay tax obligations (not a sale).
• Vesting schedules noted in the filing: multiple RSU grants with various schedules (quarterly over 12 quarters starting June 4, 2025; quarterly over 12 quarters starting June 4, 2026; quarterly over 12 quarters starting June 5, 2024; and monthly over 36 months starting March 4, 2026).
• Filing timeliness: The Form 4 was filed Sept 9, 2026 for Sept 4–5 transactions; the filing appears delayed beyond the typical 2-business-day reporting window for officers.

Context

• These transactions reflect RSU vesting and company tax withholding (a common administrative step), not open-market sales or purchases by the insider. For retail investors, vesting/withholding events are routine and do not necessarily indicate a change in the insider’s market view.