Crexendo (CXDO) CRO Jon Brinton Vests RSUs; Shares Withheld

What Happened Jon Brinton, Crexendo's Chief Revenue Officer, had RSUs vest and converted them into 9,166 shares of CXDO common stock on September 4–5, 2026 (three conversion events of 2,917; 3,333; and 2,916 shares). The company withheld 2,416 shares to satisfy payroll taxes (769, 878, and 769 shares) using the closing price of $6.01; the filing lists the total withholding value as roughly $14.5K. The conversions are reported as derivative exercises/conversions (Form 4 code M) and the withholding as tax payment (code F).

Key Details

• Transaction dates: September 4, 2026 and September 5, 2026.
• Conversions (M): 2,917; 3,333; 2,916 shares acquired at $0.00 (total 9,166 shares).
• Withholdings (F): 769; 878; 769 shares withheld at $6.01 for payroll taxes (total 2,416 shares; total listed withholding ≈ $14,521).
• Net shares delivered to Brinton after withholding: 9,166 − 2,416 = 6,750 shares.
• Shares owned after the transaction: not disclosed in the filing.
• Footnotes: RSUs represent the right to one share upon vesting; vesting schedules referenced (quarterly over 12 quarters for different grants). The filing notes withheld shares were used to satisfy payroll taxes and "do not represent a sale by the reporting person."
• Timeliness: Form filed Sept 9, 2026 for transactions on Sept 4–5 — appears later than the standard 2-business-day Form 4 deadline.

Context These transactions reflect RSU vesting/conversion (not an open-market purchase or voluntary sale). The company withheld shares to cover tax obligations (a common, routine payroll-tax withholding), not an active cashless sale by the insider. For retail investors, vested awards and associated withholdings are routine compensation events and do not by themselves signal a buy/sell opinion by the insider.