Matthew Keith Custer - 31 Jul 2023 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: 31 Jul 2023
Net transactions value: -$822
Form type: 4
Filing time: 01 Aug 2023, 15:09:13 UTC
Previous filing: 10 Apr 2023
Next filing: 10 Apr 2024
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	+2,603	+153%	$0.000000	4,309	31 Jul 2023	Direct	F1
transaction	CYAN	Common Stock	Tax liability	$822	-978	-23%	$0.8400	3,331	31 Jul 2023	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	-2,603	-38%	$0.000000	4,249	31 Jul 2023	Common Stock	2,603		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. On July 31, 2023, in connection with the vesting of 2,603 shares of stock, the Company withheld a total of 978 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 33 shares on April 6, 2024; 2,074 shares on July 29, 2024; 33 shares on April 6, 2025; 2,075 shares on July 29, 2025; and 34 shares on April 6, 2026, in each case subject to the reporting person's continued service with the Company on the vesting date.