CEO Jeffrey Korn Files to Sell $746K in Stock Amidst Broader Insider Distribution
CXDO sits 46% above its 52-week low of $5.13.
Summary
Crexendo CEO Jeffrey Korn plans to sell $746,079 in company stock, adding to a recent trend of significant insider sales by multiple executives and directors.
Key Events · Ownership and Investor Activity · CXDO
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CEO Files Intent to Sell Stock
Jeffrey Korn, CEO, has filed a Form 144 to sell 75,000 shares of common stock, valued at approximately $746,079.
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Part of Ongoing Insider Selling Trend
This filing adds to a pattern of significant insider sales at Crexendo, with over $25 million in net insider selling over the last 90 days, including recent large sales by other officers and a director.
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Previous Sales by CEO
In the past three months, Jeffrey Korn has already sold 40,000 shares for gross proceeds of $338,130, as detailed in the filing.
Analysis · CXDO · Technology
Crexendo's CEO, Jeffrey Korn, has filed a Form 144 indicating his intent to sell approximately $746,079 worth of common stock. This proposed sale follows a series of significant insider dispositions, including previous sales by Korn himself, the CFO, and a Director, contributing to a pattern of substantial insider selling over the past 90 days. The ongoing distribution by key executives and directors could be interpreted negatively by investors.
At the time of this filing, CXDO was trading at $7.50 on NASDAQ in the Technology sector, with a market capitalization of approximately $249.3M. The 52-week trading range was $5.13 to $11.23. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.