Crexendo (CXDO) CEO Jeffrey Korn Receives Vested RSUs; Shares Withheld

What Happened

• Jeffrey G. Korn, CEO of Crexendo, reported conversion/vesting of RSUs (reported as derivative exercises) on Sept 25 and Sept 27, 2026. Gross delivery totaled 1,667 shares (278 + 278 + 1,111). The company withheld 407 shares to cover payroll taxes, leaving a net of 1,260 shares added to Korn’s beneficial ownership. Withheld shares were valued using the closing price of $6.09, for a withholding value of approximately $2,478.63.

Key Details

• Transaction dates: Sept 25, 2026 (278 + 278 shares vested) and Sept 27, 2026 (1,111 shares vested). Filing date: Sept 29, 2026 (filed within the standard reporting window).
• Prices reported: shares received shown at $0.00 (RSU conversion); tax withholding used $6.09 per share. Withholding proceeds listed as $414, $414 and $1,650 (total ~$2,478.63).
• Net shares added: 1,667 gross vested − 407 withheld = 1,260 net shares delivered.
• Transaction codes: M = exercise/conversion of a derivative (here, RSU vesting); F = shares withheld for tax/payment of tax liability. The withholding transactions do not represent open‑market sales by the reporting person.
• Post‑transaction beneficial ownership: not specified in the provided excerpt of the filing.
• Footnotes: three separate RSU grants with 36‑month monthly vesting schedules beginning 3/25/2025, 10/25/2025, and 6/27/2026; shares are delivered upon vesting.

Context

• These transactions reflect RSU vesting (not a cash purchase or open‑market sale). The company’s withholding of shares to cover payroll taxes is routine and should not be read as an independent sale decision by the insider.
• No 10b5‑1 plan, gift, or sale was indicated in the provided details; this filing documents standard vesting and tax withholding activity.