Michael A. /. Davis - Sep 9, 2024 Form 4 Insider Report for CYANOTECH CORP (CYAN)

Role: Director, 10%+ Owner
Signature: /s/Laura L. Taylor, by Power of Attorney
Stock symbol: CYAN
Transactions as of: Sep 9, 2024
Transactions value $: $58,350
Form type: 4
Date filed: 9/11/2024, 05:49 PM
Previous filing: Sep 9, 2024
Next filing: Sep 13, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CYAN	Cyanotech Corporation Common Stock	Purchase	$4.2K	+5K	+0.38%	$0.84	1.32M	Sep 9, 2024	By self as trustee of the Michael Arlen Davis Revocable Trust	F1
transaction	CYAN	Cyanotech Corporation Common Stock	Purchase	$4.15K	+5K	+0.38%	$0.83	1.32M	Sep 10, 2024	By self as trustee of the Michael Arlen Davis Revocable Trust	F1
transaction	CYAN	Cyanotech Corporation Common Stock	Award	$50K	+66.7K	+5.04%	$0.75	1.39M	Sep 10, 2024	By self as trustee of the Michael Arlen Davis Revocable Trust	F2
holding	CYAN	Cyanotech Corporation Common Stock						12.1K	Sep 9, 2024	Direct
holding	CYAN	Cyanotech Corporation Common Stock						31.3K	Sep 9, 2024	By Spouse
holding	CYAN	Cyanotech Corporation Common Stock						150K	Sep 9, 2024	By self as co-trustee for the Nyracai Davis Irr. Trust and the Nettizanne J. Davis Irr. Trust
holding	CYAN	Cyanotech Corporation Common Stock						58K	Sep 9, 2024	By self as trustee for Nettizanne Johnstone Davis GST Exempt Trust
holding	CYAN	Cyanotech Corporation Common Stock						58.8K	Sep 9, 2024	By self as trustee for Nyracai Johnstone Davis GST Exempt Trust

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	Adoption date of referenced 10b5-1(c) plan is: 03-06-2024
F2	To reduce the Company's ongoing cash expense, the Nominating and Corporate Governance Committee of the Board of Directors adopted a resolution allowing each director to elect to receive his quarterly director fees in the form of restricted stock in lieu of cash. The Reporting Person elected to receive shares of restricted stock in lieu of cash for the fourth quarter of fiscal 2023, the first quarter of fiscal 2024, the third quarter of fiscal 2024, the fourth quarter of fiscal 2024 and the first quarter of fiscal 2025.

Content

Adoption date of referenced 10b5-1(c) plan is: 03-06-2024

To reduce the Company's ongoing cash expense, the Nominating and Corporate Governance Committee of the Board of Directors adopted a resolution allowing each director to elect to receive his quarterly director fees in the form of restricted stock in lieu of cash. The Reporting Person elected to receive shares of restricted stock in lieu of cash for the fourth quarter of fiscal 2023, the first quarter of fiscal 2024, the third quarter of fiscal 2024, the fourth quarter of fiscal 2024 and the first quarter of fiscal 2025.