Douglas Walter Gaylor - 12 Dec 2022 Form 4 Insider Report for Crexendo, Inc. (CXDO)

Role: Chief Operating Officer
Signature: /s/Douglas Walter Gaylor
Issuer symbol: CXDO
Transactions as of: 12 Dec 2022
Net transactions value: $0
Form type: 4
Filing time: 13 Dec 2022, 19:04:26 UTC
Previous filing: 13 Dec 2022
Next filing: 28 Dec 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CXDO	Common Stock	Options Exercise	$0	+500	+0.63%	$0.000000	79,961	12 Dec 2022	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CXDO	Restricted Stock Units	Options Exercise	$0	-500	-25%	$0.000000	1,505	12 Dec 2022	Common Stock	500	$0.000000	Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Vesting of RSUs granted on March 12, 2020.
F2	Each RSU is the economic equivalent of one share of Crexendo common stock. The closing price of CXDO on December 12, 2022 was $2.03.
F3	The RSUs vest in equal installments over 36 months starting on April 12, 2020 until such time as the RSUs are 100% vested, subject to continuous employment. Shares will be delivered upon vesting.