Gaylor Douglas Walter 4

What Happened
Douglas Gaylor, Chief Operating Officer of Crexendo, had a total of 15,277 restricted stock units (RSUs) convert to common shares (reported as derivative exercises, code M) on June 4–5, 2026. The company withheld 4,179 of those shares to cover payroll taxes (reported as code F) — the withheld shares were valued at approximately $35,768 using the closing prices disclosed in the filing — leaving about 11,098 shares delivered to Gaylor. These transactions reflect vesting and tax-withholding, not open‑market selling by the insider.

Key Details

• Transactions: RSU conversions (M) of 15,277 shares on Jun 4–5, 2026; tax withholding (F) of 4,179 shares.
• Withholding values/prices: 1,368 @ $8.93 = $12,216; 77 @ $8.93 = $688; 1,594 @ $8.93 = $14,234; 1,140 @ $7.57 = $8,630. Total withheld ≈ $35,768.
• Net shares retained/delivered to insider: ~11,098 shares.
• Shares owned after the transaction: Not disclosed in the filing.
• Filing date: June 8, 2026 — appears to be filed timely (no late filing indicated).
• Codes explained: M = exercise/conversion of derivative (RSU vesting); F = payment of exercise price or tax liability (company withheld shares). Footnotes clarify the withholdings do not represent a sale by the reporting person.

Context

• These were vested RSUs converting to common stock, not open‑market purchases or sales. The company withheld shares to satisfy payroll tax obligations (a routine practice).
• Multiple RSU grants with varying vesting schedules are referenced in the filing (monthly or quarterly vesting over periods starting in 2024–2026), and vesting is contingent on continuous employment per footnotes.