Glenn Jensen - 13 Jul 2021 Form 4 Insider Report for CYANOTECH CORP (CYAN)

Role: VP, Operations
Signature: /s/Laura L. Taylor, by Power of Attorney
Issuer symbol: CYAN
Transactions as of: 13 Jul 2021
Net transactions value: -$565
Form type: 4
Filing time: 15 Jul 2021, 21:05:06 UTC
Next filing: 03 Aug 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CYAN	Common Stock	Options Exercise	$0	+501	+2.8%	$0.000000	18,417	13 Jul 2021	Direct	F1
transaction	CYAN	Common Stock	Tax liability	$565	-189	-1%	$2.99	18,228	13 Jul 2021	Direct	F2
holding	CYAN	Common Stock						375	13 Jul 2021	Held by spouse

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	CYAN	Restricted Stock Units	Options Exercise	$0	-501	-22%	$0.000000	1,761	13 Jul 2021	Common Stock	501		Direct	F3, F4

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

Explanation of Responses:

Id	Content
F1	Represents the conversion upon vesting of restricted stock units into common stock.
F2	No stock was sold. In connection with the vesting of 501 shares of stock, the Company withheld a total of 189 shares to satisfy a payroll tax liability incident to such vesting.
F3	Each restricted stock unit represents the contingent right to receive one (1) share of Cyanotech Common Stock.
F4	The restricted stock units shall vest as to 564 shares on July 30, 2021; 33 shares on April 6, 2022; 565 shares on July 30, 2022; 34 shares on April 6, 2023; and 565 shares on July 30, 2023, in each case subject to the reporting person's continued service with the Company on the vesting date.