Dreyfus Maria S. 4

What Happened Maria S. Dreyfus, a director of Cadiz Inc. (CDZI), was the recipient of equity awards (reported as "A" — grant/award/acquisition) totaling 10,567 shares. On 2026-06-30 she was allocated 6,103 shares at $4.10 each ($25,022) and on 2026-07-01 she was issued 4,464 shares at $4.20 each ($18,749), for a combined value of approximately $43,771. These transactions reflect compensation awards to a director (not open-market purchases or sales).

Key Details

• Transaction dates and prices: 6/30/2026 — 6,103 shares @ $4.10; 7/1/2026 — 4,464 shares @ $4.20.
• Total shares acquired: 10,567; total reported value ≈ $43,771.
• Shares owned after the transactions: not disclosed in the provided filing excerpt.
• Footnotes: F1 — 6,103 shares allocated under the 2019 Equity Incentive Plan for services during the 12-month period ending 6/30/2026; these shares vest on 1/31/2027. F2 — 4,464 shares issued under the 2019 Equity Incentive Plan in lieu of cash compensation for services for the 3-month period beginning 7/1/2026.
• Filing: Form 4 filed 2026-07-02 (the filing date is within the typical two-business-day Form 4 deadline for these transactions).

Context These awards are routine director compensation under Cadiz’s equity incentive plan and include a vesting schedule (the larger allocation vests on 2027-01-31). Because these are grants/compensation (not open-market buys or sales), they reflect board pay rather than a direct market sentiment signal. The second grant was explicitly issued in lieu of cash fees for upcoming services.