Wang David Tzat-kin 4

What Happened

• David Tzat-kin Wang, Chief Technology Officer of Crexendo, had RSUs vest on June 4–5, 2026 that converted into 7,083 shares of CXDO common stock (conversion recorded as derivative exercises at $0.00). To cover payroll tax liabilities, the company withheld 2,285 shares (672 + 672 on June 4 at $8.93; 941 on June 5 at $7.57) valued at about $19,125. After withholding, 4,798 shares were delivered to Mr. Wang. These transactions are compensation-related vesting events, not open-market purchases or discretionary sales.

Key Details

• Transaction dates and withholding prices: June 4, 2026 (672 + 672 shares withheld at $8.93) and June 5, 2026 (941 shares withheld at $7.57).
• Total shares from vesting/conversion: 7,083; shares withheld for taxes: 2,285; net shares delivered: 4,798.
• Withholding value (used to pay payroll taxes): ~$19,125 (not a sale by the reporting person).
• Footnotes: RSUs convert to one share upon vesting and vest in equal quarterly installments over 12 quarters per different grants (see footnotes F1, F5–F7). Withholding entries noted in F2–F4 clarify these are tax-withholdings, not sales.
• Shares owned after transaction: Not specified in the filing.
• Filing timeliness: Form 4 filed June 8, 2026 for transactions on June 4–5, 2026; filing appears timely (within the Form 4 reporting window).

Context

• These records reflect RSU vesting and a cashless tax withholding (company retained shares to satisfy payroll taxes). This is routine compensation-related insider activity and does not necessarily indicate a change in the insider’s view of the company. For derivative-code transactions: the “M” entries reflect conversion/exercise of RSU/derivative awards into shares; the “F” entries reflect share withholding to satisfy tax obligations.