Anand Buch
About Anand Buch
Anand Buch is Chief Strategy Officer at Crexendo (CXDO) and a founder of NetSapiens, where he served as CEO since 2006 after serving as COO from 2002–2006; he holds an MBA from San Diego State University and a BSEE from the University of Illinois Urbana-Champaign . As of October 2025, he is listed among CXDO’s executive officers at age 54; he previously served on the Board from June 1, 2021 until resigning his directorship on August 1, 2024 to keep the board more independent while continuing in his operating role . Under his and the team’s tenure, 2024 company pay-versus-performance disclosures show CXDO’s $100 TSR tracker rising to $275 in 2024 (from $97 in 2023) and net income improving to $1.677 million (from a $0.362 million loss in 2023), while the Compensation Committee certified achievement of revenue and adjusted EBITDA targets for 2024 bonuses .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NetSapiens | Chief Operating Officer | 2002–2006 | Early leadership in VoIP/network convergence; built operating foundation prior to CEO role . |
| NetSapiens | Chief Executive Officer | Since 2006 | Led platform conception and delivery; positioned NetSapiens for market adoption and subsequent integration with Crexendo . |
| Nuera Communications / PCSI | Engineering and leadership roles | Not disclosed | Early career in voice/data convergence; technical depth preceding NetSapiens founding . |
External Roles
- No additional public company directorships disclosed for Mr. Buch beyond his service on Crexendo’s Board (which ended on August 1, 2024) .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($000s) | 297 | 275 |
| Stock Awards ($000s, grant date fair value) | 47 | 268 |
| Option Awards ($000s, grant date fair value) | - | - |
| Non-Equity Incentive Plan Bonus ($000s) | 86 | 95 |
| All Other Compensation ($000s) | 11 | 11 |
| Total Compensation ($000s) | 441 | 649 |
| Base Pay as of Dec 31, 2024 ($000s) | — | 275 |
Notes:
- “All other compensation” for Mr. Buch consists of 401(k) match ($11) in 2024 .
Performance Compensation
Annual Incentive Plan Design (2024)
| Component | Weighting | Target | Actual Result | Payout Attribution |
|---|---|---|---|---|
| Revenue | 50% | $58.4 million | Achieved (target met) | Contributed to bonus |
| Adjusted EBITDA | 50% | $6.8 million | Achieved (target met) | Contributed to bonus |
- Target bonus opportunity for Mr. Buch in 2024: $90,000 .
- Actual bonus paid for 2024: $95,000, approximately 34% of base salary (Committee-stated) .
Equity Awards and Vesting
| Award Type | Quantity/Status | Exercise/Grant Price | Expiration / Vesting | Notes |
|---|---|---|---|---|
| Stock Options (legacy) | 788,312 exercisable | $0.91 | 03/11/2026 | Large in-the-money option block from NetSapiens era grants; expiration may drive exercise timing . |
| Stock Options | 18,050 exercisable / 6,950 unexercisable | $2.72 | 10/24/2032 | Remaining unexercisable options vest monthly through 10/24/2025 . |
| RSUs (unvested) | 37,500 | — | Vest quarterly through 03/05/2027 | Ongoing retention through multi-year vesting . |
| 2024 Option Exercises | 312,052 shares exercised | — | — | Value realized on exercise: $1,265,000 . |
| 2024 Stock Vested | 12,500 shares | — | — | Value realized on vesting: $54,000 . |
Equity Ownership & Alignment
| Date (Record) | Shares Owned | Options/RSUs counted (60-day) | Total Beneficial Ownership | % of Outstanding |
|---|---|---|---|---|
| June 10, 2024 | 548,139 | 1,070,593 | 1,618,732 | 5.8% |
| October 6, 2025 | 563,042 | 32,979 | 596,021 | 1.9% |
Additional alignment considerations:
- Anti-hedging/pledging policy: short sales, options trading, trading on margin, pledging, and hedging are prohibited for directors and officers unless pre-approved by the General Counsel .
- Stock ownership guidelines: not disclosed in the proxy; no pledging by Mr. Buch is disclosed .
Employment Terms
| Term | Details |
|---|---|
| Employment Agreement | Executive employment letter for Messrs. Brinton, Buch, and Wang dated February 5, 2024; terminable by either side with 60 days’ notice . |
| Severance (outside Change-of-Control window) | One month of severance per year of employment up to one year, plus COBRA reimbursement up to 12 months (if eligible and elected) . |
| Change-of-Control Definition Window | Starts at the beginning of any discussion/offer affecting a change of control and ends 12 months after the effective date . |
| CIC (double-trigger) if terminated without cause or resigns for good reason within CIC window | - 12 months base salary, plus a payment equal to the executive’s maximum target bonus for the prior 12 months; - COBRA premium reimbursement up to 12 months; - 100% accelerated vesting of all outstanding equity awards . |
| CIC Transaction-Price Award (independent of continued employment) | RSUs/shares (or cash equivalent) based on transaction share price: $1,000,000 if < $7; $1,500,000 if $7–$10; $2,000,000 if > $10 . |
| Single-trigger equity acceleration | All outstanding stock options for NEOs become fully vested upon a change in control, irrespective of termination . |
| Clawback | Policy effective Nov 30, 2023, compliant with SEC/Dodd-Frank; recovery of erroneously awarded incentive-based compensation upon restatement . |
| Insider Trading Policy | Company policy in place (see anti-hedging/pledging above) . |
Performance & Track Record
| Indicator | 2023 | 2024 |
|---|---|---|
| Value of $100 TSR tracker | $97 | $275 |
| Net Income (Loss) ($000s) | (362) | 1,677 |
| 2024 Plan Goal Achievement | — | Both revenue and adjusted EBITDA targets achieved (compensation formula certified) |
Qualitative track record and background:
- Founder and long-time leader of NetSapiens, with multidisciplinary business/technology experience; transitioned to CSO at CXDO post-transaction, focusing on product and technology strategy .
- Resigned from CXDO’s Board on August 1, 2024 to reinforce board independence while remaining CSO; resignation letter attached to 8-K .
Board Governance
- Board service: Member of the Board from June 1, 2021 until August 1, 2024; no committee roles disclosed for Mr. Buch during that time in the cited materials .
- As of October 2025, he is listed among executive officers; biographical and executive rosters provided in proxy .
Compensation Structure Analysis
- Cash vs equity mix shifted toward equity in 2024: stock award grant-date value rose to $268k (from $47k) while base salary decreased to $275k (from $297k); bonus modestly increased to $95k (from $86k) .
- Annual bonus tightly tied to corporate revenue and adjusted EBITDA, equally weighted with linear payout up to 110% of target; both metrics achieved for 2024 .
- Equity awards combine service-vesting RSUs (through March 2027) and options (including significant legacy in-the-money options expiring March 2026), creating both retention and potential exercise/sale timing considerations .
- Single-trigger equity acceleration upon change in control is shareholder-unfriendly relative to double-trigger best practice; additional CIC transaction-price award ($1–$2 million) strengthens management incentives in sale scenarios .
Investment Implications
- Alignment and retention: Buch holds meaningful ownership (1.9% as of Oct 2025) with ongoing RSU vesting through 2027, supporting retention and alignment; anti-hedging/pledging restrictions further align incentives .
- Near-term selling pressure: The large 0.91 strike options expiring March 2026 and continued RSU vesting could influence trade flows; he exercised 312,052 options in 2024 (realizing ~$1.265M), indicating willingness to monetize options as they approach expiration .
- Pay-for-performance: 2024 bonuses were formulaic on revenue and adjusted EBITDA and were paid after both targets were achieved, consistent with pay-for-performance .
- Change-of-control economics: Double-trigger cash severance plus transaction-price awards and single-trigger equity acceleration could motivate management to favor value-creating transactions but also raise overhang/optics considerations for shareholders .
- Execution and value creation: Company-level TSR and profitability improved in 2024 alongside target achievement; continued delivery on growth and EBITDA is critical to sustain performance alignment signals from the 2024 plan .