Mihaylo Steven G Form 4 Crexendo / STEVEN G MIHAYLO ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

MIHAYLO STEVEN G

(Last) (First) (Middle)

1615 S 52ND ST

(Street)

TEMPE AZ 85281

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Crexendo, Inc. [ CXDO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/26/2021		M		191,678	A	$4.08	10,254,702	D
Common Stock	02/26/2021		M		26,592	A	$2.25	10,281,294	D
Common Stock	02/26/2021		M		6,094	A	$4.25	10,287,388	D
Common Stock	02/26/2021		M		11,080	A	$6.26	10,298,468	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
NQ Stock Option Grant	$4.08	02/26/2021		M			191,678	(1)	03/01/2022	Common Stock	191,678	$4.08	0	D
ISO Stock Option Grant	$2.25	02/26/2021		M			26,592	(2)	02/12/2026	Common Stock	26,592	$2.25	13,408	D
ISO Stock Option Grant	$4.25	02/26/2021		M			6,094	(3)	03/12/2027	Common Stock	6,094	$4.25	13,906	D
NQ Stock Option Grant	$6.26	02/26/2021		M			11,080	(4)	10/21/2027	Common Stock	11,080	$6.26	88,920	D

Explanation of Responses:

1. The non-qualified stock options vested over 48 equal monthly installments beginning on 4/1/2012.

2. The ISO stock options vest over 36 equal monthly installments beginning on 3/12/2019.

3. The ISO stock options vest over 36 equal monthly installments beginning on 4/12/2020.

4. The non-qualified stock options vest over 36 equal monthly installments beginning on 11/21/2020.

	/s/Steven G Mihaylo	03/01/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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