Form 4: Cyanotech Director Michael Davis Increases Stake in Company

Director Michael Davis increased his indirect holdings in Cyanotech through purchases made via a revocable trust.

Summary

• On September 17 and 18, 2024, Michael Davis, a director and 10% owner of Cyanotech Corporation, acquired additional shares of the company's common stock through purchases made by self as trustee of the Michael Arlen Davis Revocable Trust.
• On September 17, 2024, 4,000 shares were purchased at $0.74 per share and 1,000 shares were purchased at $0.72 per share.
• On September 18, 2024, 5,000 shares were purchased at $0.78 per share.
• Following these transactions, Davis indirectly owns 1,420,440 shares through the Michael Arlen Davis Revocable Trust.
• Davis also has indirect ownership through a spouse (31,250 shares), as co-trustee for the Nyracai Davis Irr. Trust and the Nettizanne J. Davis Irr. Trust (150,000 shares), as trustee for the Nettizanne Johnstone Davis GST Exempt Trust (58,000 shares), and as trustee for the Nyracai Johnstone Davis GST Exempt Trust (58,789 shares).
• Davis directly owns 12,119 shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director's increased stake suggests confidence, but it's a routine filing.

Positives

• A director increasing their stake in the company can be seen as a positive signal, indicating confidence in the company's future prospects.

Industry Context

Insider buying is often monitored as an indicator of management's sentiment about the company's prospects, relative to the current stock price.

Stakeholder Impact

• The increased stake by a director could positively influence shareholder sentiment.

Key Dates

Keywords

Cyanotech, Michael Davis, insider trading, Form 4, share purchase, beneficial ownership, director, stock