Gaylor Douglas Walter 4

What Happened
Gaylor Douglas Walter, COO of Crexendo, had multiple restricted stock units (RSUs) convert to common shares on March 25, 2026. A total of 834 RSU units vested/converted (three 278-share conversions recorded). The company withheld 153 shares to cover payroll taxes (76 and 77 shares), valued at $6.48 per share (total tax withholding ≈ $991.44). Net shares delivered to the insider were 681, with a market value on the vesting date of about $4,412.88 (834 shares × $6.48 = $5,404.32 gross value).

Key Details

• Transaction date: March 25, 2026; Form 4 filed March 27, 2026 (timely).
• Codes: M = exercise/conversion of derivative (RSU conversion); F = tax withholding.
• Shares converting: 3 × 278 = 834 RSUs converted to common shares.
• Withheld for taxes: 76 shares (≈ $492.48) and 77 shares (≈ $498.96), total ≈ $991.44. These withholdings are not open-market sales by the insider.
• Net shares received: 681 shares (834 − 153). Net value ≈ $4,412.88 based on $6.48 closing price.
• Footnotes: RSUs represent the right to one share upon vesting (F1). Vesting schedules referenced: monthly installments over 36 months starting March 25, 2025 (F3) and October 25, 2025 (F5). Withholding details use the March 25, 2026 closing price (F2, F4).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Filing timeliness: Reported promptly (Form 4 filed two days after the transaction date).

Context
This was an RSU vesting and conversion event, not an open-market purchase or sale. The withholding of shares to cover payroll taxes is a routine administrative step (cashless/stock-withholding) and does not necessarily indicate insider sentiment. For retail investors, RSU vesting shows compensation realization but is different from a voluntary purchase (which some interpret as a stronger bullish signal).