Charles Jason Hartmann - 31 Jul 2023 Form 4 Insider Report for CYANOTECH CORP (CYAN)

Role: VP, Sales & Marketing
Signature: /s/Laura L. Taylor, by Power of Attorney
Issuer symbol: CYAN
Transactions as of: 31 Jul 2023
Net transactions value: -$563
Form type: 4
Filing time: 01 Aug 2023, 15:26:42 UTC
Previous filing: 10 Apr 2023
Next filing: 21 Feb 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	+1,680	+4308%	$0.000000	1,719	31 Jul 2023	Direct	F1
transaction	CYAN	Common Stock	Tax liability	$563	-670	-39%	$0.8400	1,049	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	-1,680	-33%	$0.000000	3,461	31 Jul 2023	Common Stock	1,680		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 1,680 shares of stock, the Company withheld a total of 670 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; 1,680 shares on July 29, 2024; 33 shares on April 6, 2025; 1,681 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.