Jon Brinton - 17 Mar 2023 Form 4 Insider Report for Crexendo, Inc. (CXDO)

Role: Chief Revenue Officer
Signature: /s/Jon Brinton
Issuer symbol: CXDO
Transactions as of: 17 Mar 2023
Net transactions value: -$7,886
Form type: 4
Filing time: 21 Mar 2023, 20:14:20 UTC
Previous filing: 16 Mar 2023
Next filing: 22 May 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	+16,000	+23%	$0.000000	84,148	17 Mar 2023	Direct	F1
transaction	CXDO	Common Stock	Tax liability	$7,886	-4,086	-4.9%	$1.93	80,062	17 Mar 2023	Direct	F2

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	-16,000		$0.000000	$0	17 Mar 2023	Common Stock	16,000	$0.000000	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Each RSU represents the right to receive, upon vesting, one share of CXDO common stock contingent on continued employment.
F2	The Company withheld 4,086 shares of common stock for payment of the associated payroll taxes, using the closing stock price on March 17, 2023 of $1.93. This transaction does not represent a sale by the reporting person.
F3	The RSUs vested 50% immediately on the grant date (3/17/2022) and 50% in 12 months (3/17/2023), subject to continuous employment. Shares will be delivered upon vesting.