Stanley E. Speer - 08 Apr 2026 Form 4 Insider Report for CADIZ INC (CDZI)

Reporting relationship: Chief Financial Officer
Issuer ticker: CDZI
Reported as of: 08 Apr 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 10 Apr 2026, 13:22:10 UTC
Prior SEC filing: 08 Oct 2025
Source filing: View source filing
Reporting owner signature: Stanley E. Speer

Key filing fact

Stanley E. Speer filed Form 4 for CADIZ INC (CDZI) on 10 Apr 2026.

Key facts

This page summarizes Stanley E. Speer's Form 4 filing for CADIZ INC (CDZI).
3 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 10 Apr 2026, 13:22.

Change

Previous filing in this sequence was filed on 08 Oct 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001191897 Primary reporting owner

SPEER STANLEY E

Relationship: Chief Financial Officer
Address: 550 SOUTH HOPE STREET, SUITE 2850, LOS ANGELES
Signature: Stanley E. Speer
Signature date: 10 Apr 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

CDZI transaction

Common Stock

Award

Transaction value
Shares: +25,075
Change %: +9.7%
Price: $0.000000^*
Shares after: 283,860
Date: 08 Apr 2026
Ownership: Direct
Footnotes: F1

CDZI transaction

Common Stock

Options Exercise

Transaction value
Shares: +13,425
Change %: +4.7%
Price: $0.000000^*
Shares after: 297,285
Date: 31 Oct 2025
Ownership: Direct
Footnotes: F2, F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

CDZI transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value
Shares: -25,000
Change %: -8.8%
Price
Shares after: 260,000
Date: 31 Oct 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 25,000
Exercise price
Footnotes: F4, F5, F6

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 6 footnotes

Footnote F1

Shares issued under the 2019 Equity Incentive Plan to the Reporting Person as a performance bonus after giving effect to tax withholding as permitted under the approved terms applicable to the award.

Footnote F2

Represents the vesting of 25,000 previously reported restricted stock units ("RSUs") upon completion of the California Environmental Quality Act ("CEQA") review for the construction and conveyance of water through the Northern Pipeline, and the concurrent issuance of a net of 13,425 shares of common stock as a consequence of such vesting, after giving effect to tax withholding as permitted under the approved terms applicable to the grant of the RSUs.

Footnote F3

Includes 80,150 restricted stock unites ("RSUs"), each representing a contingent right to receive one share of Cadiz Inc. (the "Company") common stock to vest ratably in seven quarterly installments of 11,450 each on the final day of every quarter of the Company's 2026 and 2027 fiscal years, subject in all cases to the Reporting Person's continuing employment as of each such vesting date. The Reporting Person disclaims beneficial ownership of these securities until such time, and to the extent, that ownership of the securities has vested.

Footnote F4

Each previously reported RSU represents a contingent right to receive one share of the Company's common stock.

Footnote F5

These previously reported RSUs will vest as a performance goal-based milestone award once the following events have occurred: (a) 85,000 RSUs upon the closing of project financing necessary for the construction of the Northern Pipeline; (b) 25,000 RSUs upon the issuance of a Federal Land Policy and Management Act right of way permit authorizing the conveyance of water across Federal lands through the Northern Pipeline; (c) 25,000 RSUs upon the execution by public water systems of binding agreements for the purchase from the Company of not less than an aggregate of 25,000 acre-feet per year ("AFY") of annual water supply to be delivered via the Southern Pipeline; (d) 25,000 RSUs upon the execution by public water systems of binding agreements for a cumulative total of 35,000 AFY in water purchase agreements;

Footnote F6

Footnote 5 continued: (e) 25,000 RSUs upon the execution by public water systems of binding agreements for the storage of not less than 25,000 acre-feet of imported water at the Cadiz Property; (f) 25,000 RSUs upon the completion of the CEQA/National Environmental Policy Act review for the storage of imported water at the Cadiz Property; and (g) 50,000 RSUs for first delivery by the Company of water under binding agreements with public water systems for the conveyance of water through the Northern Pipeline.