Susan P. Kennedy - 04 Feb 2022 Form 4 Insider Report for CADIZ INC (CDZI)

Role: Director
Signature: Susan P. Kennedy
Issuer symbol: CDZI
Transactions as of: 04 Feb 2022
Net transactions value: $0
Form type: 4
Filing time: 08 Feb 2022, 12:47:42 UTC
Previous filing: 01 Jul 2021
Next filing: 13 Dec 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	CDZI	Common Stock						950	04 Feb 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	+450,000		$0.000000	450,000	04 Feb 2022	Common Stock	450,000		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.