Keith Brackpool - 13 Aug 2021 Form 4 Insider Report for CADIZ INC (CDZI)

Role: Director
Signature: Keith Brackpool
Issuer symbol: CDZI
Transactions as of: 13 Aug 2021
Net transactions value: $0
Form type: 4
Filing time: 17 Aug 2021, 13:40:24 UTC
Next filing: 08 Dec 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CDZI	Common Stock	Options Exercise	$0	+55,802	+34%	$0.000000	221,198	13 Aug 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CDZI	Restricted Stock Units	Options Exercise	$0	-85,000	-33%	$0.000000	170,000	13 Aug 2021	Common Stock	85,000		Direct	F1, F2, F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the vesting of 85,000 previously reported restricted stock units ("RSUs") and the concurrent issuance of a net of 55,802 shares of common stock as a consequence of such vesting, after giving effect to tax withholding as permitted under the approved terms applicable to the grant of the RSUs.
F2	Each previously reported RSU represents a contingent right to receive one share of Cadiz Inc. common stock.
F3	85,000 of these RSUs owned following the reported transaction 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.
F4	The Reporting Person disclaims beneficial ownership of these securities until such time, and to the extent, that ownership of these securities has vested.