KORN JEFFREY G 4

What Happened

• Jeffrey G. Korn, CEO of Crexendo, had restricted stock units (RSUs) vest and convert into common stock on June 4–5, 2026. A total of 16,110 shares converted (no cash exercise price). The company withheld 3,924 shares to satisfy payroll-tax obligations (total withholding value reported $33,385), leaving Korn with roughly 12,186 net shares.
• These were vesting/settlement events (reported with code M for conversion/exercise and code F for tax withholding). The withholding transactions are company-side share withholding to cover taxes and "do not represent a sale by the reporting person" per the filing.

Key Details

• Dates & prices used for tax withholding: June 4, 2026 — withholding at $8.93 (1,218 + 68 + 1,420 shares); June 5, 2026 — withholding at $7.57 (1,218 shares). Withheld-share totals: 1,218; 68; 1,420; 1,218 (3,924 total). Withholding dollar amounts: $10,877; $607; $12,681; $9,220 (total $33,385).
• Gross shares converted: 16,110 (11,110 on June 4 at $8.93; 5,000 on June 5 at $7.57). Approximate gross market value at those closing prices: ~$137,062.
• Net shares received by Korn after withholding: ~12,186.
• Notable footnotes: these shares came from RSU grants with various vesting schedules (quarterly or monthly vesting per footnotes F6–F9). The withholding entries are noted as tax-withholdings by the company (F2–F5).
• Filing timeliness: Form 4 was filed June 8, 2026 covering June 4–5 transactions; the filing appears timely (filed within required business-day window).
• Shares owned after the transactions were not disclosed in the provided excerpt.

Context

• These transactions reflect RSUs vesting and net settlement to cover tax obligations — not open-market sales or purchases. That means the withholding is an administrative tax payment rather than a directional sale by the insider.
• Transaction codes: M = exercise/conversion of derivative (here, RSU settlement); F = payment of exercise price or tax liability (share withholding for taxes).