Kennedy Susan P 4
4 · CADIZ INC · Filed Dec 13, 2022
Insider Transaction Report
Form 4
CADIZ INCCDZI
Kennedy Susan P
DirectorCEO
Transactions
- Purchase
Common Stock
2022-12-13$2.22/sh+75,000$166,500→ 75,950 total - Award
Performance Rights
2022-02-04+450,000→ 450,000 totalExp: 2027-02-04→ Common Stock (450,000 underlying)
Footnotes (3)
- [F1]This transaction was executed in multiple trades at prices ranging from $2.19 to $2.22. 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]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.
- [F3]The Reporting Person disclaims beneficial ownership of these securities until such time, and to the extent, that ownership of these securities has vested.