Charles Jason Hartmann - 16 Feb 2024 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
16 Feb 2024
Net transactions value
-$685
Form type
4
Filing time
21 Feb 2024, 10:38:08 UTC
Previous filing
01 Aug 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 +3,900 +372% $0.000000 4,949 16 Feb 2024 Direct F1
transaction CYAN Common Stock Tax liability $685 -1,556 -31% $0.4400 3,393 16 Feb 2024 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 -3,900 -35% $0.000000 7,361 16 Feb 2024 Common Stock 3,900 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 February 16, 2024, in connection with the vesting of 3,900 shares of stock, the Company withheld a total of 1,556 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; 3,900 shares on February 16, 2025; 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.