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 liabilities.

Summary

• On April 8, 2024, Matthew Custer, the President and CEO of Cyanotech Corp, reported transactions involving Cyanotech common stock.
• 33 restricted stock units vested and were converted into common stock.
• The company withheld 13 shares to cover payroll tax liabilities related to the vesting of the 33 shares.
• Following these transactions, Custer directly owns 3,351 shares of common stock and 4,216 restricted stock units.
• The restricted stock units vest in installments, with future vesting dates in July 2024, April 2025, July 2025, and April 2026, contingent upon continued service with the company.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider trading activity.

Positives

• The vesting of restricted stock units indicates a form of compensation and alignment of the CEO's interests with the company's performance.

Future Outlook

The document outlines the future vesting schedule for Custer's remaining restricted stock units, contingent on his continued service with the company.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the CEO's ongoing equity stake in the company.

Stakeholder Impact

• The transactions reported in the Form 4 filing provide transparency to shareholders regarding the CEO's stock ownership and compensation.

Key Dates

Keywords

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