CADIZ INC — Director's Dealing 2006

Nov 15, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADIZ INC (CDZI)
CIK: 0000727273
Period of Report: 2006-11-14

Reporting Person: Pacini Raymond J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-14	Common Stock	A	1510	—	Acquired	1510	Direct

Footnotes

F1: Includes 1,510 shares allocated to the Reporting Person under the Outside Director Compensation Plan for services rendered by the Reporting Person as a director of the Issuer, consisting of 286 shares with respect to services rendered during the 12 month period ended June 30, 2005, which shares vested and were issued immediately on November 14, 2006, and 1,224 shares with respect to services rendered during the 12 month period ended June 30, 2006, which shares will vest on January 31, 2007.