Form 4: Cyanotech VP Hartmann Reports Stock Transactions Following RSU Vesting

VP of Sales & Marketing at Cyanotech, Charles Jason Hartmann, reports the vesting of restricted stock units and subsequent withholding of shares for tax liabilities.

Summary

• Charles Jason Hartmann, VP of Sales & Marketing at Cyanotech Corp, reported changes in beneficial ownership of company stock on July 29, 2024.
• The transactions involved the vesting of 1,680 restricted stock units (RSUs) into common stock.
• Following the vesting, 670 shares were withheld by the company to cover payroll tax liabilities.
• After these transactions, Hartmann directly owns 4,422 shares of Cyanotech common stock and 5,648 restricted stock units.
• The remaining RSUs vest in installments on February 16, 2025 (3,900 shares), April 6, 2025 (33 shares), July 29, 2025 (1,681 shares), and April 6, 2026 (34 shares), contingent upon continued service with the company.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to stock transactions, indicating a neutral sentiment.

Positives

• The vesting of RSUs indicates a form of compensation and incentive for the reporting person.

Future Outlook

The reporting person has remaining restricted stock units that will vest in future installments, contingent upon continued service with the company.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in the reporting person's holdings.

Key Dates

Keywords

Cyanotech, Hartmann, RSU, Vesting, Stock, Beneficial Ownership, Form 4, Payroll Tax, Securities