CADIZ INC — Director's Dealing 2006

Dec 29, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADIZ INC (CDZI)
CIK: 0000727273
Period of Report: 2006-09-28

Reporting Person: BRACKPOOL KEITH (Director, Cheif Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-09-28	Common Stock	G	15000	—	Disposed	222436	Direct
2006-12-21	Common Stock	G	15000	—	Disposed	207436	Direct
2006-12-27	Common Stock	S	30000	$20.5	Disposed	177436	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-05-04	Employee Stock Options (right to buy)	$12	A	100000	Acquired	2015-05-04	Common Stock (100000)	Direct

Footnotes

F1: The Reporting person sold these shares in order to satisfy a tax liability which arose upon receipt of shares from the Company, pursuant to the Management Equity Incentive Plan, during the year.

F2: Previously reported.