Susan P. Kennedy - Feb 4, 2022 Form 4 Insider Report for CADIZ INC (CDZI)

Role: Director
Signature: Susan P. Kennedy
Stock symbol: CDZI
Transactions as of: Feb 4, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/8/2022, 12:47 PM
Previous filing: Jul 1, 2021
Next filing: Dec 13, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	CDZI	Common Stock						950	Feb 4, 2022	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CDZI	Performance Rights	Award	$0	+450K		$0.00	450K	Feb 4, 2022	Common Stock	450K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each performance right represents a contingent right to receive one share of the Issuer's common stock. 200,000 of the performance rights vest upon the Issuer's common stock achieving a market price of $7 per share; 150,000 vest upon the Issuer's common stock achieving a market price of $9 per share; 50,000 vest upon the Issuer's common stock achieving a market price of $11 per share, and 50,000 vest upon the Issuer's common stock achieving a market price of $13 per share. Performance rights are payable in the form of either cash or common stock registered under a stockholder approved equity incentive plan under which a sufficient number of shares of common stock then remains available for issuance.
F2	The Reporting Person disclaims beneficial ownership of these securities until such time, and to the extent, that ownership of these securities has vested.

Content

Each performance right represents a contingent right to receive one share of the Issuer's common stock. 200,000 of the performance rights vest upon the Issuer's common stock achieving a market price of $7 per share; 150,000 vest upon the Issuer's common stock achieving a market price of $9 per share; 50,000 vest upon the Issuer's common stock achieving a market price of $11 per share, and 50,000 vest upon the Issuer's common stock achieving a market price of $13 per share. Performance rights are payable in the form of either cash or common stock registered under a stockholder approved equity incentive plan under which a sufficient number of shares of common stock then remains available for issuance.

The Reporting Person disclaims beneficial ownership of these securities until such time, and to the extent, that ownership of these securities has vested.