Company: CXDO
Filing Date: 2025-10-20
Form Type: DEF 14A
Source: 0001654954-25-011941
Chunk: 33

Company: Crexendo, Inc.
Filing Date: 2025-10-20
Form: DEF 14A
Chunk 33
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 the trading day. The share price thresholds and associated RSU awards are as follows (in thousands, except share price):

| · | $6.00 Share Price would result in ten thousand (10) RSUs per participant. |
| · | $6.50 Share Price would result in ten thousand (10) RSUs per participant. |
| · | $7.00 Share Price would result in ten thousand (10) RSUs per participant. |
| · | $7.50 Share Price would result in ten thousand (10) RSUs per participant. |
| · | $8.00 Share Price would result in ten thousand (10) RSUs per participant. |
| · | $8.50 Share Price would result in ten thousand (10) RSUs per participant. |

None of the share price performance targets were met for the year ended December 31, 2024 and no performance-based RSUs were granted.

Discretionary Bonuses. We have utilized discretionary bonuses to reward performance achievements for certain of our executive officers. Discretionary bonuses are approved by the Compensation Committee. During fiscal 2024, there were no discretionary bonuses.

Retirement and Other Personal Benefits. All of our NEOs receive similar retirement and other personal benefits. We sponsor the Crexendo, Inc. Retirement Savings Plan (the “401(k) Plan”) for eligible employees. Our NEOs participate in the 401(k) Plan. The 401(k) Plan is a broad-based, tax-qualified retirement plan under which eligible employees, including the NEOs, may make annual pre-tax salary reduction contributions, subject to the various limits imposed under the Internal Revenue Code of 1986, as amended (the “Code”). We make matching contributions under the 401(k) Plan on behalf of eligible participants, including the NEOs, at the rate of 100% of the first one percent and 50% of each additional percentage of each participating NEO’s salary up to a six percent deferral, with a two-year vesting schedule for the matched portion. Matching contributions are not subject to non-discrimination requirements imposed by the Code. The 401(k) Plan is intended to help us attract and retain qualified executives through the offering of competitive employee benefits. We do not maintain any other pension or retirement plans for the NEOs.

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We provide other traditional benefits and limited perquisites to our NEOs in order to achieve a competitive pay package as detailed in the Summary Compensation Table. The Compensation Committee believes that these benefits