Jennifer M. Johansen - 13 Jul 2021 Form 4 Insider Report for CYANOTECH CORP (CYAN)

Role: VP, Quality, Regulatory & Govt
Signature: /s/Laura L. Taylor, by Power of Attorney
Issuer symbol: CYAN
Transactions as of: 13 Jul 2021
Net transactions value: -$490
Form type: 4
Filing time: 15 Jul 2021, 21:07:48 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	+435	+23%	$0.000000	2,313	13 Jul 2021	Direct	F1
transaction	CYAN	Common Stock	Tax liability	$490	-164	-7.1%	$2.99	2,149	13 Jul 2021	Direct	F2

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	-435	-22%	$0.000000	1,561	13 Jul 2021	Common Stock	435		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 435 shares of stock, the Company withheld a total of 164 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 498 shares on July 30, 2021; 33 shares on April 6, 2022; 498 shares on July 30, 2022; 34 shares on April 6, 2023; and 498 shares on July 30, 2023, in each case subject to the reporting person's continued service with the Company on the vesting date.