Cadiz Inc. (NASDAQ: CDZI) director granted 817 shares as board pay

Rhea-AI Filing Summary

Cadiz Inc. director Barbara A. Lloyd reported receiving 817 shares of common stock on January 2, 2026 at a price of $5.74 per share. These shares were issued under the company’s 2019 Equity Incentive Plan, as amended, in lieu of cash compensation for her services as a director during the three-month period beginning January 1, 2026. After this grant, she beneficially owned 21,345 Cadiz common shares in direct form.

Insider Trade Summary

Net Buyer: 817 shares

Net Buy 1 txn

Insider Lloyd Barbara A

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	817	$5.74	$5K

Holdings After Transaction: Common Stock — 21,345 shares (Direct)

Footnotes (1)

1. F1. Shares issued to the Reporting Person under the 2019 Equity Incentive Plan, as amended, in lieu of cash compensation for services rendered by the Reporting Person as a director of the Issuer during the 3-month period beginning January 1, 2026.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 01/06/2026 - 07:57 PM Learn about SEC filing dates

FAQ

What insider transaction did Cadiz Inc. (CDZI) report for Barbara A. Lloyd?

Cadiz Inc. reported that director Barbara A. Lloyd received 817 shares of common stock on January 2, 2026, coded as an acquisition (A) on a Form 4.

At what price were the Cadiz Inc. (CDZI) shares issued to Barbara A. Lloyd?

The 817 Cadiz Inc. common shares were issued at a price of $5.74 per share, as disclosed in the Form 4.

Why did Barbara A. Lloyd receive Cadiz Inc. (CDZI) shares instead of cash?

The footnote states the shares were issued under the 2019 Equity Incentive Plan, as amended, in lieu of cash compensation for services as a director during the three-month period beginning January 1, 2026.

How many Cadiz Inc. (CDZI) shares does Barbara A. Lloyd own after this transaction?

Following the reported transaction, Barbara A. Lloyd beneficially owned 21,345 Cadiz common shares, held in direct ownership.

What is Barbara A. Lloyd’s relationship to Cadiz Inc. (CDZI)?

According to the filing, Barbara A. Lloyd is a director of Cadiz Inc. and is not listed as an officer or 10% owner.

Was this Cadiz Inc. (CDZI) Form 4 transaction part of a compensation plan?

Yes. The Form 4 footnote explains the shares were issued under the 2019 Equity Incentive Plan, as amended, as compensation for her board service over a specified three-month period.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lloyd Barbara A

(Last) (First) (Middle)

C/O CADIZ INC.

550 SOUTH HOPE STREET, SUITE 2850

(Street)

LOS ANGELES CA 90071

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CADIZ INC [ CDZI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/02/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/02/2026		A		817(1)	A	$5.74	21,345	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares issued to the Reporting Person under the 2019 Equity Incentive Plan, as amended, in lieu of cash compensation for services rendered by the Reporting Person as a director of the Issuer during the 3-month period beginning January 1, 2026.

	Barbara A. Lloyd	01/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.