CADIZ INC — Director's Dealing 2023

Sep 21, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADIZ INC (CDZI)
CIK: 0000727273
Period of Report: 2023-09-21

Reporting Person: Kennedy Susan P (Director, Executive Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-09-21	Common Stock	P	15822	$3.17	Acquired	85159	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Performance Rights	$	2027-02-04	Common Stock (450000)	450000	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $3.16 to $3.17. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F2: Previously reported.

F3: Each performance right represents a contingent right to receive one share of the Issuer's common stock. 200,000 of the performance rights vest upon the Issuer's common stock achieving an market price of $7 per share; 150,000 vest upon the Issuer's common stock achieving a market price of $9 per share; 50,000 vest upon the Issuer's common stock achieving a market price of $11per share, and 50,000 vest upon the Issuer's common stock achieving a market price of $13 per share. Performance rights are payable in the form of either cash or common stock registered under a stockholder approved equity incentive plan under which a sufficient number of shares of common stock then remains available for issuance.

F4: The Reporting Person disclaims beneficial ownership of these securities until such time, and to the extent, that ownership of these securities has vested.