Form 4: Crexendo CEO Jeffrey Korn Exercises Stock Options and Disposes of Shares for Tax Obligations
SEC Form 4 Filing
Crexendo's CEO, Jeffrey Korn, exercised stock options and disposed of shares to cover exercise price and associated taxes on February 29, 2024.
Summary
- On February 29, 2024, Jeffrey G. Korn, CEO of Crexendo, Inc., exercised non-qualified stock options.
- Korn exercised options to purchase 5,000 shares of common stock at an exercise price of $1.56 per share.
- As a result of a 'net exercise', Korn received 2,528 shares of common stock.
- The company withheld 2,472 shares to cover the exercise price and associated taxes, using a closing stock price of $5.55 on February 29, 2024.
- Following these transactions, Korn directly owns 232,384 shares of Crexendo common stock.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock option exercise and share disposal for tax purposes. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Investors monitor these filings to understand management's perspective on the company's stock and future prospects.
Key Dates
| Date | Description |
|---|---|
| 03/07/2017 | Date exercisable for Non-Qualified Stock Options |
| 03/07/2024 | Expiration Date for Non-Qualified Stock Options |
| 02/29/2024 | Date of transaction: Exercise of stock options and disposal of shares for tax obligations. |
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