Susan P. Kennedy - Sep 21, 2023 Form 4 Insider Report for CADIZ INC (CDZI)

Role
Executive Director, Director
Signature
Susan Kennedy
Stock symbol
CDZI
Transactions as of
Sep 21, 2023
Transactions value $
$50,156
Form type
4
Date filed
9/21/2023, 12:49 PM
Previous filing
Jul 17, 2023
Next filing
Jan 4, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CDZI Common Stock Purchase $50.2K +15.8K +22.82% $3.17 85.2K Sep 21, 2023 Direct F1

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
holding CDZI Performance Rights 450K Sep 21, 2023 Common Stock 450K Direct F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction was executed in multiple trades at prices ranging from $3.16 to $3.17. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F2 Previously reported.
F3 Each performance right represents a contingent right to receive one share of the Issuer's common stock. 200,000 of the performance rights vest upon the Issuer's common stock achieving an market price of $7 per share; 150,000 vest upon the Issuer's common stock achieving a market price of $9 per share; 50,000 vest upon the Issuer's common stock achieving a market price of $11per share, and 50,000 vest upon the Issuer's common stock achieving a market price of $13 per share. Performance rights are payable in the form of either cash or common stock registered under a stockholder approved equity incentive plan under which a sufficient number of shares of common stock then remains available for issuance.
F4 The Reporting Person disclaims beneficial ownership of these securities until such time, and to the extent, that ownership of these securities has vested.