CADIZ INC — Director's Dealing 2006

Feb 17, 2006

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: CADIZ INC (cdzi)
CIK: 0000727273
Period of Report: 2005-10-03

Reporting Person: ISELIN ODONNELL II (Chief Financial Officer)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$17.25	2015-10-03	Common Stock (40000)		Direct

Footnotes

F1: The options, which were authorized under the Issuer's 2003 Management Equity Incentive Plan in December 2004 and which were allocated to the Reporting Person on October 3, 2005, vest 1/3 immediately, 1/3 on October 3, 2006, and 1/3 on December 3, 2007.