KORN JEFFREY G 4

What Happened
Jeffrey G. Korn, CEO of Crexendo, had restricted stock units (RSUs) convert to common shares on March 25, 2026. The filing shows three conversions of 278 RSUs each (total 834 shares) at $0.00 per share. To cover payroll taxes, the company withheld 68 shares on two occasions (136 shares total) using the closing price of $6.48 on March 25, 2026, resulting in withholding valued at about $441 each (≈$882 total). These transactions reflect vesting/settlement of RSUs, not open-market sales by the CEO.

Key Details

• Transaction date: March 25, 2026 (Form 4 filed March 27, 2026) — filing appears timely.
• Conversion price: $0.00 per share (RSU settlement); tax withholding price: $6.48 (closing price).
• Shares converted (gross): 3 × 278 = 834 shares.
• Shares withheld for taxes: 2 × 68 = 136 shares; withholding value ≈ $882 (68 × $6.48 × 2).
• Shares owned after transaction: Not specified in the provided filing data.
• Footnotes: RSUs represent the right to receive one share upon vesting (F1). Withholding of 68 shares each (F2, F4) was to cover payroll taxes and "does not represent a sale by the reporting person." Vesting schedules noted: monthly over 36 months beginning March 25, 2025 (F3) and October 25, 2025 (F5).

Context
This was a routine vesting/settlement of RSU awards and standard share withholding to satisfy payroll tax obligations (a non-market transaction). For reporting purposes, some entries show derivative conversions or dispositions at $0 — these reflect the settlement/conversion of RSUs into common stock, not market sales. Receiving vested awards is different from making a purchase (which some investors view as a bullish signal); withholding for taxes likewise does not indicate an insider-initiated sale.