Douglas Walter Gaylor - 12 Feb 2023 Form 4 Insider Report for Crexendo, Inc. (CXDO)

Role: Chief Operating Officer
Signature: /s/Douglas Walter Gaylor
Issuer symbol: CXDO
Transactions as of: 12 Feb 2023
Net transactions value: $0
Form type: 4
Filing time: 14 Feb 2023, 10:45:55 UTC
Previous filing: 13 Jan 2023
Next filing: 13 Mar 2023
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	+0.36%	$0.000000	137,909	12 Feb 2023	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	-50%	$0.000000	505	12 Feb 2023	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 February 12, 2023 was $1.84.
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.