SEC Form 4 · accession 0001437749-18-006538
CYANOTECH CORP · CYAN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jennifer M. Johansen
Officer — VP of Quality
Period of report
Apr 5, 2018
Accepted (ET)
Apr 9, 2018 · 2:57 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 | 1,172 | D | |
| Cyanotech common stock | Apr 5, 2018 | F | 63 | $5.25 | D | 1,109 | D |
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 |
| Cyanotech common stock optionsF3 | $2.08 | holding | — | — | — | — | Apr 30, 2019 | Cyanotech common stock | 10,000 | 10,000 | D |
| Cyanotech common stock optionsF4 | $3.58 | holding | — | — | — | — | Jun 30, 2021 | Cyanotech common stock | 8,000 | 8,000 | D |
| Cyanotech common stock optionsF5 | $3.82 | holding | — | — | — | — | Aug 28, 2021 | Cyanotech common stock | 2,000 | 2,000 | D |
| Cyanotech common stock optionsF6 | $5.84 | holding | — | — | — | — | Jul 18, 2022 | Cyanotech common stock | 10,000 | 10,000 | D |
| Cyanotech common stock optionsF7 | $5.61 | holding | — | — | — | — | Aug 15, 2022 | Cyanotech common stock | 2,000 | 2,000 | 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 4/5/2019 and 166 shares on 4/5/2020, in each case subject to continued service with Cyanotech on the vesting date.
- F3Ms Johansen acquired 10,000 stock options on 4/30/2009, of which 1,000 options became exercisable on 4/30/2010, 2,000 options became exercisable on 4/30/2011, 3,000 options became exercisable on 4/30/2012 and 4,000 options became exercisable on 4/30/2013.
- F4Ms Johansen acquired 8,000 stock options on 7/1/2011, of which 800 options became exercisable on 7/1/2011, 1,600 options became exercisable on 7/1/2012, 2,400 options became exercisable on 7/1/2013 and 3,200 options became exercisable on 7/1/2014.
- F5Ms Johansen acquired 2,000 stock options on 8/29/2011, of which 200 options became exercisable on 8/29/2011, 400 options became exercisable on 8/29/2012, 600 options became exercisable on 8/29/2013 and 800 options became exercisable on 8/29/2014.
- F6Ms Johansen acquired 10,000 stock options on 7/19/2012, of which 2,500 options became exercisable on 7/19/2013, 2,500 options became exercisable on 7/19/2014, 2,500 options became exercisable on 7/19/2015 and 2,500 options became exercisable on 7/19/2016.
- F7Ms Johansen acquired 2,000 stock options on 8/16/2012, of which 500 options became exercisable on 8/16/2013, 500 options became exercisable on 8/16/2014, 500 options became exercisable on 8/16/2015 and 500 options became exercisable on 8/16/2016.
- F8The 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.