CADIZ INC — Director's Dealing 2021

Apr 28, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADIZ INC (CDZI)
CIK: 0000727273
Period of Report: 2021-04-26

Reporting Person: BRACKPOOL KEITH (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-04-26	Restricted Stock Units	$	A	255000	Acquired		Common Stock (255000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	165387	Direct

Footnotes

F1: Each restricted stock unit ("RSU") represents a contingent right to receive one share of Cadiz Inc. common stock.

F2: 85,000 of these RSUs will vest upon obtaining a new senior secured loan in an amount sufficient to repay the Company's senior secured debt as well as obtaining funding to complete the purchase of the northern pipeline; 85,000 of these RSUs will vest upon the Company's entering into final binding water supply agreements for delivery of at least 9,500 acre-feet per year; and, 85,000 of these RSUs will vest on March 1, 2023, subject to the Reporting Person's continuing employment as of such vesting date.

F3: The Reporting Person disclaims beneficial ownership of these securities until such time, and to the extent, that ownership of these securities has vested.