CADIZ INC — Director's Dealing 2006

Jan 4, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADIZ INC (cdzi)
CIK: 0000727273
Period of Report: 2005-11-16

Reporting Person: SHAHEEN TIMOTHY J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-11-16	Common Stock	G	750	—	Disposed	74040	Direct
2005-11-23	Common Stock	G	750	—	Disposed	73290	Direct
2005-12-20	Common Stock	G	1000	—	Disposed	72290	Direct
2005-12-20	Common Stock	G	1000	—	Acquired	1000	Indirect
2005-12-20	Common Stock	G	1000	—	Disposed	71290	Direct
2005-12-20	Common Stock	G	1000	—	Acquired	1000	Indirect
2005-12-30	Common Stock	S	1000	$19	Disposed	0	Indirect
2005-12-30	Common Stock	S	1000	$19	Disposed	0	Indirect

Footnotes

F1: On December 20, 2005, 1,000 shares were gifted by the reporting person to an irrevocable trust for the benefit of the reporting person's son. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities.

F2: On December 20, 2005, 1,000 shares were gifted by the reporting person to an irrevocable trust for the benefit of the reporting person's daughter. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities.

F3: On December 30, 2005, 1,000 shares previously gifted by the reporting person to an irrevocable trust for the benefit of the reporting person's son were sold by such trust, as a consequence of which such trust no longer holds any securities of the issuer.

F4: On December 30, 2005, 1,000 shares previously gifted by the reporting person to an irrevocable trust for the benefit of the reporting person's daughter were sold by such trust, as a consequence of which such trust no longer holds any securities of the issuer.