Douglas Walter Gaylor - Dec 30, 2022 Form 4 Insider Report for Crexendo, Inc. (CXDO)

Role: Chief Operating Officer
Signature: /s/Douglas Walter Gaylor
Stock symbol: CXDO
Transactions as of: Dec 30, 2022
Transactions value $: -$60,101
Form type: 4
Date filed: 1/3/2023, 10:09 AM
Previous filing: Dec 30, 2022
Next filing: Jan 13, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CXDO	Common Stock	Options Exercise	$50K	+45K	+36.43%	$1.11	169K	Dec 30, 2022	Direct
transaction	CXDO	Common Stock	Tax liability	-$60.1K	-31.6K	-18.77%	$1.90	137K	Dec 30, 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	Stock Options (right to buy)	Options Exercise	-$50K	-45K	-100%	$1.11	0	Dec 30, 2022	Common Stock	45K	$1.11	Direct

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

Explanation of Responses:

Id	Content
F1	Represents a "net exercise" of outstanding stock options. The reporting person received 13,368 shares of common stock on net exercise of option to purchase 45,000 shares of common stock. The Company withheld 31,632 shares of common stock underlying the option for payment of the exercise price and associated taxes, using the closing stock price on December 30, 2022 of $1.90, This transaction does not represent a sale by the reporting person.

Content

Represents a "net exercise" of outstanding stock options. The reporting person received 13,368 shares of common stock on net exercise of option to purchase 45,000 shares of common stock. The Company withheld 31,632 shares of common stock underlying the option for payment of the exercise price and associated taxes, using the closing stock price on December 30, 2022 of $1.90, This transaction does not represent a sale by the reporting person.