SEC Form 5 · accession 0000923876-15-000001
CADIZ INC · CDZI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Keith Brackpool
Director
Period of report
Dec 31, 2014
Accepted (ET)
Feb 10, 2015 · 2:33 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000727273
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Aug 12, 2009 | G | 20,000 | $0.00 | D | 325,000 | D | |
| Common Stock | Oct 1, 2009 | G | 10,000 | $0.00 | D | 315,000 | D | |
| Common Stock | Nov 12, 2009 | G | 30,000 | $0.00 | D | 285,000 | D | |
| Common StockF2 | Dec 26, 2014 | G | 50,000 | $0.00 | D | 235,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Options (right to buy)F3 | $12.00 | holding | — | — | — | Oct 1, 2006 | May 4, 2015 | Common Stock | 100,000 | 100,000 | D |
| Employee Stock Options (right to buy)F3 | $11.50 | holding | — | — | — | Jan 14, 2012 | Jan 14, 2020 | Common Stock | 200,000 | 300,000 | D |
| Restricted Stock UnitsF4,F5 | — | holding | — | — | — | — | — | Common Stock | 100,000 | 100,000 | D |
Explanation of responses
- F1The amount of securities shown as beneficially owned by the Reporting Person in this Form has been adjusted to correct a long-standing calculation error which attributed 2,436 more shares to the Reporting Person in previous Section 16 filings than are actually beneficially owned by him.
- F2The Reporting Person disclaims beneficial ownership of 100,000 of these securities until such time, and the extent, that ownership of the securities has vested.
- F3Previously reported.
- F4Each restricted stock unit ("RSU") represents a contingent right to receive one share of Cadiz Inc. common stock.
- F5The 100,000 RSUs will vest once construction financing necessary for the implementation of the Cadiz Valley Water Conservation, Recovery and Storage Project, as defined in the approved Final Environmental Impact Report, is secured. These RSUs were granted on July 1, 2014, and will expire on June 10, 2017, if the milestone has not been achieved by such date.