Form 4: Crexendo CEO Jeffrey Korn Reports Stock Transactions

Crexendo's CEO, Jeffrey Korn, reports the vesting of restricted stock units and subsequent withholding of shares for tax obligations.

Summary

• On June 5, 2024, Jeffrey Korn, CEO of Crexendo, Inc., reported transactions involving Crexendo's common stock and restricted stock units (RSUs).
• Korn vested 5,000 restricted stock units, each representing the right to receive one share of CXDO common stock upon vesting, contingent on continued employment.
• The company withheld 1,218 shares of common stock at a price of $3.25 per share to cover payroll taxes associated with the vesting of the RSUs.
• Following these transactions, Korn directly owns 236,166 shares of Crexendo common stock and 55,000 restricted stock units.
• The RSUs vest in equal quarterly installments over 12 quarters starting on June 5, 2024, subject to continuous employment.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.

Future Outlook

The RSUs will continue to vest in equal quarterly installments over the next 12 quarters, contingent on continuous employment.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in the CEO's holdings.
• Employees who hold RSUs may be interested in the vesting schedule and tax implications.

Key Dates