Jennifer M. Johansen - 29 Jul 2022 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
29 Jul 2022
Net transactions value
-$589
Form type
4
Filing time
02 Aug 2022, 16:00:49 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 +498 +20% $0.000000 2,978 01 Aug 2022 Direct F1
transaction CYAN Common Stock Tax liability $589 -187 -6.3% $3.15 2,791 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 +4,138 +402% $0.000000 5,168 29 Jul 2022 Common Stock 4,138 Direct F3, F4
transaction CYAN Restricted Stock Units Options Exercise $0 -498 -9.6% $0.000000 4,670 01 Aug 2022 Common Stock 498 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 498 shares of stock, the Company withheld a total of 187 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 498 shares on July 30, 2022; 34 shares on April 6, 2023; 1,379 shares on July 29, 2023; 498 shares on July 30, 2023; 1,379 shares on July 30, 2024; and 1,380 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; 1,379 shares on July 29, 2023; 498 shares on July 30, 2023; 1,379 shares on July 30, 2024; and 1,380 shares on July 30, 2025, in each case subject to the reporting person's continued service with the Company on the vesting date.