Glenn Jensen - 29 Jul 2022 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: 29 Jul 2022
Net transactions value: -$671
Form type: 4
Filing time: 02 Aug 2022, 15:56:17 UTC
Previous filing: 08 Apr 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	+565	+3%	$0.000000	19,377	01 Aug 2022	Direct	F1
transaction	CYAN	Common Stock	Tax liability	$671	-213	-1.1%	$3.15	19,164	01 Aug 2022	Direct	F2
holding	CYAN	Common Stock						375	29 Jul 2022	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	Award	$0	+4,924	+423%	$0.000000	6,088	29 Jul 2022	Common Stock	4,924		Direct	F3, F4
transaction	CYAN	Restricted Stock Units	Options Exercise	$0	-565	-9.3%	$0.000000	5,523	01 Aug 2022	Common Stock	565		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 565 shares of stock, the Company withheld a total of 213 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 565 shares on July 30, 2022; 34 shares on April 6, 2023; 1,641 shares on July 29, 2023; 565 shares on July 30, 2023; 1,641 shares on July 30, 2024; and 1,642 shares on July 30, 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; 1,641 shares on July 29, 2023; 565 shares on July 30, 2023; 1,641 shares on July 30, 2024; and 1,642 shares on July 30, 2025, in each case subject to the reporting person's continued service with the Company on the vesting date.