Matthew Keith Custer - 29 Jul 2022 Form 4 Insider Report for CYANOTECH CORP (CYAN)

Role
President and CEO, Director
Signature
/s/Laura L. Taylor, by Power of Attorney
Issuer symbol
CYAN
Transactions as of
29 Jul 2022
Net transactions value
-$627
Form type
4
Filing time
02 Aug 2022, 15:51:42 UTC
Previous filing
22 Jun 2022
Next filing
10 Apr 2023
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 +529 +39% $0.000000 1,884 01 Aug 2022 Direct F1
transaction CYAN Common Stock Tax liability $627 -199 -11% $3.15 1,685 01 Aug 2022 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 Award $0 +6,223 +570% $0.000000 7,315 29 Jul 2022 Common Stock 6,223 Direct F3, F4
transaction CYAN Restricted Stock Units Options Exercise $0 -529 -7.2% $0.000000 6,786 01 Aug 2022 Common Stock 529 Direct F3, F5
* 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. On August 1, 2022, in connection with the vesting of 529 shares of stock, the Company withheld a total of 199 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 vest as to 529 shares on July 30, 2022; 34 shares on April 6, 2023; 2,074 shares on July 29, 2023; 529 shares on July 30, 2023; 2,074 shares on July 29, 2024 and 2,075 shares on July 29, 2025, in each case subject to the reporting person's continued service with the Company on the vesting date.
F5 The restricted stock units vest as to 34 shares on April 6, 2023; 2,074 shares on July 29, 2023; 529 shares on July 30, 2023; 2,074 shares on July 29, 2024 and 2,075 shares on July 29, 2025, in each case subject to the reporting person's continued service with the Company on the vesting date.