Crexendo (CXDO) COO Gaylor Exercises RSUs; Shares Withheld

What Happened

• Gaylor Douglas Walter, COO of Crexendo, had restricted stock units (RSUs) vest and convert into common shares on Sept 25 and Sept 27, 2026. A total of 1,667 shares were acquired through these conversions (no exercise price paid; exercise price = $0).
• To cover payroll taxes, the company withheld 457 shares (77 + 76 + 304) using the closing price of $6.09, totaling about $2,783. That withholding is not treated as an open-market sale by the reporting person. Net shares added to his position = 1,210.

Key Details

• Transaction dates and actions:
  • 2026-09-25: Two RSU conversions of 278 shares each (total 556 shares); 77 and 76 shares withheld for taxes (valued at $6.09; $469 and $463 respectively).
  • 2026-09-27: RSU conversion of 1,111 shares; 304 shares withheld for taxes (valued at $6.09; $1,851).
• Codes: M = exercise/conversion of derivative (RSU vesting); F = shares withheld for tax payment.
• Vesting schedule notes: these RSUs vest in monthly installments over 36 months per filing footnotes (start dates referenced in F5–F7); shares are delivered upon vesting.
• Shares owned after transaction: not specified in the provided filing data.
• Filing timeliness: Form 4 was filed on 2026-09-29; based on the transaction dates (9/25 and 9/27) the filing date is within the typical two-business-day window and appears timely.

Context

• These transactions reflect routine RSU vesting and company tax-withholding (a common cashless method). The reporting person did not sell shares in an open-market transaction as part of these entries — the withheld shares were used solely to satisfy tax withholding. This is compensation-related, not a purchase signal.