Gaylor Douglas Walter, chief operating officer at Crexendo (CXDO), has filed 100 Form 4 transactions, all in that single company. The aggregate dollar flow is heavily weighted toward selling: open-market sales total $1,385,235.50 against open-market purchases of $81,541. That buying is a small fraction of the selling, and the recent pattern shows no discretionary trades at all.
The last several filings, from late June through early September 2026, consist entirely of option exercises (code M, valued at $0) paired with shares withheld to cover taxes (code F). Those F transactions range from $462.77 on September 4 to $9,579.94 on the same day, with smaller amounts like $479.56 on August 25 and $575.19 on August 4. This is mechanical activity: Walter exercises options and immediately surrenders a portion of the shares to satisfy the tax obligation. No cash changes hands on the M side, and the F values are set by the share price at vesting.
The last open-market purchase or sale in the record is not in the recent window, so the current direction is neutral. The $81,541 in total purchases, spread across the full 100-transaction history, is modest next to the $1.39 million in sales. The absence of recent P or S codes means Walter has not added to or trimmed his position on the open market in months. The pattern is consistent with a long-tenured executive whose ongoing activity is limited to compensation mechanics.
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