Ron Vincent - 17 Mar 2022 Form 4 Insider Report for Crexendo, Inc. (CXDO)

Role: Chief Financial Officer
Signature: /s/Ron Vincent
Issuer symbol: CXDO
Transactions as of: 17 Mar 2022
Net transactions value: -$27,712
Form type: 4
Filing time: 21 Mar 2022, 21:08:30 UTC
Previous filing: 15 Mar 2022
Next filing: 14 Apr 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	+23,750	+99%	$0.000000	47,747	17 Mar 2022	Direct	F1
transaction	CXDO	Common Stock	Tax liability	$27,712	-6,928	-15%	$4.00	40,819	17 Mar 2022	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	Award	$0	+47,500		$0.000000	47,500	17 Mar 2022	Common Stock	47,500	$0.000000	Direct	F1, F3
transaction	CXDO	Restricted Stock Units	Options Exercise	$0	-23,750	-50%	$0.000000	23,750	17 Mar 2022	Common Stock	23,750	$0.000000	Direct	F1, 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 6,929 shares of common stock for payment of the associated payroll taxes, using the closing stock price on March 17, 2022 of $4.00. This transaction does not represent a sale by the reporting person.
F3	The RSUs vest 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.