Crexendo, Inc. — Director's Dealing 2012

May 21, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Crexendo, Inc. (EXE)
CIK: 0001075736
Period of Report: 2012-05-15

Reporting Person: Gaylor Douglas Walter (Chief Operating Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-15	Common Stock	$3.55	A	50000	Acquired	2022-05-15	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2500	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock	$4.08	2022-03-01	Common Stock (25000)	25000	Direct
Common Stock	$5.90	2021-05-17	Common Stock (25000)	25000	Direct
Common Stock	$3.30	2020-07-16	Common Stock (10000)	10000	Direct
Common Stock	$7.12	2019-10-26	Common Stock (10000)	10000	Direct

Footnotes

F1: The options vest in forty-eight (48) equal monthly installments beginning on June 15, 2012.

F2: The options vest in forty-eight (48) equal monthly installments beginning on April 01, 2012.

F3: The options vest in forty-eight (48) equal monthly installments beginning on June 17,2011.

F4: The options vest in forty-eight (48) equal monthly installments beginning on August 16, 2010.

F5: The options vest in forty-eight (48) equal monthly installments beginning on November 26, 2009.