SEC Form 4 · accession 0001437749-18-006533
CYANOTECH CORP · CYAN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gerald R Cysewski
Officer — CSO · Director
Period of report
Apr 5, 2018
Accepted (ET)
Apr 9, 2018 · 2:53 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000768408
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Cyanotech common stock | Apr 5, 2018 | M | 167 | $0.00 | A | 121,022 | D | |
| Cyanotech common stock | Apr 5, 2018 | F | 63 | $5.25 | D | 120,959 | D | |
| Cyanotech common stock | holding | — | — | — | 250 | I | Held by spouse |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted stock unitsF1,F2 | — | Apr 5, 2018 | M | 167 | D | — | — | Cyanotech common stock | 167 | 333 | D |
| Restricted stock unitsF1,F3 | — | holding | — | — | — | — | — | Cyanotech common stock | 16,667 | 16,667 | D |
| Cyanotech common stock optionsF4 | $2.08 | holding | — | — | — | — | Apr 29, 2019 | Cyanotech common stock | 10,000 | 10,000 | D |
| Cyanotech common stock optionsF4 | $3.58 | holding | — | — | — | — | Jun 30, 2021 | Cyanotech common stock | 12,000 | 12,000 | D |
| Cyanotech common stock optionsF4 | $3.82 | holding | — | — | — | — | Aug 27, 2021 | Cyanotech common stock | 103,000 | 103,000 | D |
| Cyanotech common stock optionsF4 | $5.84 | holding | — | — | — | — | Jul 18, 2022 | Cyanotech common stock | 12,500 | 12,500 | D |
Explanation of responses
- F1Each restricted stock unit represents the contingent right to receive one (1) share of Cyanotech common stock.
- F2The restricted stock units shall vest as to 167 shares on April 5, 2018, 167 shares on April 5, 2019 and 166 shares on April 5, 2020, in each case subject to the reporting person's continued service with Cyanotech on the vesting date.
- F3The restricted stock units shall vest as to 8,333 on March 31, 2019 and 8,334 on March 31, 2020, in each case subject to the reporting person's continued service with Cyanotech on the vesting date.
- F4Fully exercisable
- F5The reporting person is reporting the withholding by the issuer of 63 shares of common stock that vested on April 5, 2018 pursuant to the April 5, 2017 RSU grant, but that were not issued in order to satisfy the reporting person's tax withholding obligations in connection with the delivery of the converted common stock to the reporting person as of April 6, 2018.
- F6Represents the conversion upon vesting of restricted stock units into common stock.