Form 4: Cyanotech Corp: CEO Matthew Custer Reports Stock Transactions

Matthew Custer, President and CEO of Cyanotech Corp, reports the vesting of restricted stock units and withholding of shares for tax liability.

Summary

• On July 29, 2024, Matthew Custer, President and CEO of Cyanotech Corp, reported transactions involving Cyanotech common stock and restricted stock units.
• 2,074 restricted stock units vested and were converted into common stock.
• The company withheld 779 shares to cover payroll tax liabilities related to the vesting of the stock.
• Following these transactions, Custer directly owns 4,646 shares of common stock and 2,142 restricted stock units.
• The remaining restricted stock units vest in installments on April 6, 2025 (33 shares), July 29, 2025 (2,075 shares), and April 6, 2026 (34 shares), contingent upon continued service with the company.

Sentiment

Score: 5

Explanation: The document is a neutral report of stock transactions. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information about insider activity.

Positives

• The vesting of restricted stock units indicates a form of compensation and incentive for the CEO.

Future Outlook

The remaining restricted stock units will vest in installments on April 6, 2025, July 29, 2025, and April 6, 2026, contingent upon continued service with the company.

Industry Context

This filing is a routine disclosure of insider transactions, which is common for publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.

Stakeholder Impact

• Shareholders are informed about the CEO's stock transactions, providing transparency into executive compensation and ownership.

Key Dates

Keywords

Form 4, Beneficial Ownership, Restricted Stock Units, Stock Vesting, Cyanotech, Matthew Custer, Insider Trading