Anil Puri
About Anil Puri
Anil “Dr.” Puri (age 76) has served on Crexendo’s Board since November 2009 and is currently a Class II director nominated for a term expiring at the 2026 annual meeting. He is an independent director under Nasdaq rules, with a career as an economist and academic leader at California State University–Fullerton (CSUF), including roles as provost and dean; he brings deep economic analysis expertise to the Board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| California State University–Fullerton (CSUF) | Director, Woods Center for Economic Analysis & Forecasting | Not disclosed | Economic analysis and forecasting leadership |
| CSUF | Provost; Dean, Mihaylo College of Business and Economics | Not disclosed | Academic leadership; institutional governance |
| CSUF | Department Chair; Professor of Economics | Not disclosed | Academic and administrative oversight |
| Western Economic Association International | Executive Vice President | Not disclosed | Leadership in professional association of economists |
| National Association of Business Economists (NABE) | Panel member, Survey of Economic Conditions | Not disclosed | Macroeconomic insights and survey participation |
| Various public boards (prior) | Advisor/counselor to public boards (prior service) | Not disclosed | Prior board counseling experience |
External Roles
| Organization | Role | Public/Private/Non-profit | Notes |
|---|---|---|---|
| American Economic Association | Member | Non-profit | Professional association membership |
| National Association of Business Economists (NABE) | Member; Panelist | Non-profit | Survey panel member |
| Woods Center for Economic Analysis & Forecasting (CSUF) | Director | Academic | Applied economic research leadership |
| Other public company boards | None disclosed | Public | No current public company directorships disclosed |
Board Governance
- Independence: The Board determined committee members (including Dr. Puri) are independent under Nasdaq Capital Market rules; a majority of directors are independent .
- Classification/Term: Class II director; nominated for a term expiring at the 2026 annual meeting .
- Committees:
- Audit Committee: Member (committee chaired by David Williams; other member Todd Goergen). Audit Committee met four times in FY2024 .
- Compensation Committee: Not a member (members are Goergen, chair, and Bash) .
- Nominating Committee: Not a member (members are Bash, chair; Goergen; Williams) .
- Attendance: The Board met six times in FY2024; each director attended at least 75% of aggregate Board and committee meetings .
| Governance Item | Detail |
|---|---|
| Re-election (2024) | Votes For: 16,222,274; Votes Withheld: 327,885 (Class II election) |
| Anti-hedging/pledging | Policy prohibits short sales, options trading, trading on margin or pledging, and hedging unless pre-approved |
| Related-party policy | All related-party transactions (> $120,000) require approval/ratification by independent directors |
Fixed Compensation
| Component | Amount (USD thousands) | Period | Notes |
|---|---|---|---|
| Annual cash retainer | $16 | FY2024 | Non-employee directors received $4 per quarter ($16 annually) |
Performance Compensation
| Component | Grant Date | Number/Value | Vesting/Terms | Notes |
|---|---|---|---|---|
| Option awards (aggregate grant-date fair value) | Not disclosed | $53 (fair value) | Not disclosed | Valuation per accounting guidance |
| Equity structure | — | Options only | Not disclosed | Company grants options to directors; no RSUs disclosed for directors |
No director-specific performance metrics (e.g., revenue/EBITDA/TSR hurdles) tied to director compensation were disclosed for FY2024 .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Interlock/Conflict Notes |
|---|---|---|---|
| None disclosed | — | — | No current public company directorships disclosed |
Expertise & Qualifications
- Noted economist with extensive academic leadership; prior EVP of Western Economic Association; active roles within AEA and NABE .
- Board-level contribution: economic analysis and business/financial experience; prior counseling of public boards .
Equity Ownership
| Metric | Amount | As-of Date | Notes |
|---|---|---|---|
| Shares owned directly | 49,818 | Oct 6, 2025 | Company address of record listed for directors |
| Outstanding options and RSUs counted for beneficial ownership (exercisable within 60 days/RSUs vesting within 60 days) | 103,375 | Oct 6, 2025 | SEC Rule-based inclusion for beneficial ownership |
| Total beneficial ownership (shares + eligible options/RSUs) | 153,193 | Oct 6, 2025 | Less than 1% of class |
| Unexercised options outstanding | 111,500 shares | Dec 31, 2024 | Aggregate unexercised options as of FY2024 year-end |
| Pledging/Hedging | Prohibited absent pre-approval | Policy | Alignment safeguard |
Governance Assessment
- Board effectiveness: Dr. Puri contributes economic and financial expertise and serves on the Audit Committee, which met four times in FY2024; independence confirmed under Nasdaq rules .
- Engagement and shareholder support: Strong re-election support in 2024 (low withhold count); attendance threshold met (≥75%) per Board-wide disclosure .
- Compensation and alignment: Director pay mix leans toward equity via options ($53k fair value) alongside modest cash retainer ($16k), with meaningful but sub-1% beneficial ownership (153,193 shares/options) and policy restrictions against pledging/hedging—supportive of alignment .
- Conflicts/Related parties: No related-party transactions or other compensation disclosed for Dr. Puri; Board-level related-party activity includes consulting payments to Steven G. Mihaylo ($168k) and Kevin Jackson ($21k), approved and disclosed—monitor but not directly attributable to Dr. Puri .
- Risk indicators: No Section 16(a) filing delinquency noted for Dr. Puri; anti-hedging/pledging policy in place; clawback policy adopted for executives (not directors) as of Nov 30, 2023 .
RED FLAGS
- Board-level related-party services (Mihaylo consulting; Jackson marketing consulting) warrant continued oversight, though not involving Dr. Puri .
- No director-specific ownership guidelines disclosed; lack of formal director ownership targets may weaken explicit alignment signaling despite beneficial ownership and anti-pledge policy .
Signals supporting investor confidence
- Independent Audit Committee membership and involvement; Board majority independent .
- Strong shareholder vote for Dr. Puri’s re-election (raw votes indicate high support) .
- Anti-hedging/pledging policy reduces misalignment risks .