Company: CXDO
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001654954-25-002287
Chunk: 1019

Company: Crexendo, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 7A
Chunk 1019
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 life of the option. During 2023, the Company declared and paid one quarterly dividends of $0.005, however, the expected annual dividend yield was less than half of one percent during 2023. In March 2023, our Board of Directors cancelled the quarterly dividend.  

 71Table of Contents

The following table summarizes the stock option activity under the plans for the years ended December 31, 2024 and 2023 (in thousands, except share data):              Weighted-  Weighted-Average Aggregate   Number of   Average  Remaining Intrinsic Value   Shares  Exercise Price  Contract Life (in thousands) Outstanding at January 1, 2023  7,652,964   2.73  5.3 years  3,362 Granted  965,500   1.88       Exercised  (183,521)  1.32       Cancelled/forfeited  (439,144)  3.04       Outstanding at December 31, 2023  7,995,799   2.64  4.9 years  19,469 Granted  328,500   5.42       Exercised  (1,460,404)  1.74       Cancelled/forfeited  (201,096)  4.01       Outstanding at December 31, 2024  6,662,799   2.93  4.4 years  16,584 Shares vested and expected to vest  6,558,048   2.93  4.3 years  16,369 Exercisable as of December 31, 2024  5,866,379   2.89  3.8 years  14,950 Exercisable as of December 31, 2023  6,417,000   2.57  3.9 years  16,278  The total intrinsic value of options exercised during the years ended December 31, 2024 and 2023, was $5,098 and $154, respectively. As of December 31, 2024, the total future compensation expense related to non-vest