CADIZ INC — Director's Dealing 2018

Jun 4, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADIZ INC (CDZI)
CIK: 0000727273
Period of Report: 2018-05-25

Reporting Person: Water Asset Management LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-25	Common Stock, par value $0.01 ("Common Stock")	P	531918	$12.47	Acquired	3499080	Indirect
2018-05-25	Common Stock	S	531918	$12.46	Disposed	2967162	Indirect

Footnotes

F1: Rebalancing transactions in which the Accounts (as defined below) purchased and sold the Common Stock in equal amounts with no change in the aggregate number of such shares of Common Stock owned by the Accounts as a result of such transactions.

F2: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $12.43 to $12.60, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth herein.

F3: The securities reported herein are directly held by investment funds and/or managed accounts (the "Accounts") for which Water Asset Management, LLC, a New York limited liability company (the "Reporting Person"), serves as investment manager. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.45 to $12.65, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.