CADIZ INC — Director's Dealing 2023

Jun 20, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADIZ INC (CDZI)
CIK: 0000727273
Period of Report: 2023-06-15

Reporting Person: Kennedy Susan P (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-06-20	Common Stock	P	2417	$4.1295	Acquired	75337	Direct
2023-06-15	Common Stock	G	20000	—	Disposed	55337	Direct

Holdings (Derivative)

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

Footnotes

F1: This transaction involved a gift of securities by the Reporting Person to her brother and sister-in-law, neither of whom shares the Reporting Person's household. The Reporting Person disclaims beneficial ownership of the shares transferred by way of this gift.

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 a 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$11 per 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.