Form 4: Cyanotech VP, HR, Secretary Amy Beth Nordin Reports Stock Vesting and Tax Withholding

Amy Beth Nordin, VP, HR, and Secretary of Cyanotech Corporation, reported the vesting of restricted stock units and the subsequent withholding of shares to cover payroll tax liabilities.

Summary

• On April 8, 2024, Amy Beth Nordin, VP, HR, and Secretary of Cyanotech Corporation, reported transactions related to restricted stock units.
• 33 restricted stock units vested and were converted into common stock.
• The company withheld 13 shares to satisfy payroll tax liabilities associated with the vesting.
• Following these transactions, Nordin directly owns 4,904 shares of common stock and 6,471 restricted stock units.
• The restricted stock units vest in installments, with future vesting dates in July 2024, February 2025, April 2025, July 2025, and April 2026, contingent upon continued service with the company.

Sentiment

Score: 5

Explanation: This is a neutral event. It's a standard insider transaction disclosure related to executive compensation.

Future Outlook

The reporting person will continue to receive shares as the restricted stock units vest over the next two years, contingent on continued service with the company.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the holdings and transactions of company executives. It is a standard practice for publicly traded companies.

Stakeholder Impact

• The vesting of restricted stock units aligns the executive's interests with those of the shareholders, as the value of the units is tied to the company's stock performance.

Key Dates

Keywords

Form 4, insider trading, restricted stock units, vesting, payroll tax, Cyanotech, Nordin, common stock