Welcome to our dedicated page for Cadiz SEC filings (Ticker: CDZI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Cadiz Inc. filings document the regulatory record for a California water solutions company developing the Mojave Groundwater Bank, related conveyance infrastructure and groundwater filtration operations. Current reports on Form 8-K cover material agreements, water-project collaboration arrangements, board appointments and other events tied to the company’s water supply and storage strategy.
Proxy materials disclose board governance, director elections, executive compensation and equity-award information. The filing record also identifies Cadiz’s capital structure, including common stock and depositary shares representing fractional interests in its 8.875% Series A Cumulative Perpetual Preferred Stock, and includes disclosure categories for shareholder voting matters, governance and capital-structure changes.
Cadiz Inc. is registering up to 1,875,000 shares of common stock as “Fee Shares” to be issued to a tribal investor pursuant to a credit agreement. These shares are part of the consideration for an unsecured term loan facility of up to $51,000,000 with Lytton Rancheria of California. The company will not receive cash proceeds from issuing the Fee Shares and will bear the related registration expenses.
The Fee Shares comprise 600,000 commitment shares and 25,000 shares per each $1,000,000 of loan disbursement, registered under Cadiz’s shelf on Form S-3. Shares outstanding were 82,085,079 as of October 24, 2025, and would be 83,960,079 after this offering. Delivery of shares is expected on or about October 27, 2025. Cadiz’s stock trades on Nasdaq as CDZI; the closing price was $5.24 on October 24, 2025. The company highlights risk factors related to future equity issuances and stock price volatility.
Cadiz Inc. reported a Form 4 showing that CFO Stanley E. Speer received awards on 10/06/2025 totaling 285,000 restricted stock units (RSUs) and an additional 141,600 common shares underlying RSUs recorded as acquired the same day. The RSUs include time-based vesting for 141,600 shares: 50,000 vesting on 12/31/2025 and eight equal quarterly installments of 11,450 across the fiscal 2026–2027 quarters, contingent on continued employment.
Separately, 285,000 performance-based RSUs vest only after specified project milestones tied to the Northern and Southern Pipeline initiatives, including CEQA review completion, project financing closing, issuance of a Federal right-of-way permit, cumulative water purchase agreements measured in acre-feet per year (AFY), storage agreements, CEQA/NEPA review for storage, and first delivery of water under binding agreements. Following the reported transactions, Mr. Speer beneficially owns 258,785 shares.
Barbara A. Lloyd, a director of Cadiz Inc. (CDZI), was issued 1,056 shares of Common Stock on 10/01/2025 at a per-share price of $4.44. These shares were granted under the 2019 Equity Incentive Plan and were issued in lieu of cash compensation for director services covering the three-month period beginning October 1, 2025. After this issuance Ms. Lloyd beneficially owns 20,528 shares, held directly. The Form 4 was signed on 10/02/2025.
Maria S. Dreyfus, a director of Cadiz Inc. (CDZI), received 4,223 shares of common stock as equity compensation. The shares were issued under the company's 2019 Equity Incentive Plan in lieu of cash for director services covering the three-month period beginning 10/01/2025, at a reported price of $4.44 per share. After this issuance the reporting person beneficially owned 179,027 shares on a direct basis. The Form 4 reports this insider acquisition and identifies the transaction code as an award for services.
Cadiz Inc. reported that on September 25, 2025, the U.S. Bureau of Reclamation, Fenner Valley Water Authority, and Fenner Gap Mutual Water Company, which is managed by Cadiz, entered into a legally non-binding Memorandum of Understanding to study the company’s proposed Mojave Groundwater Bank project in San Bernardino County, California. The collaboration will focus on sharing data, tools, and research about potential water augmentation and aquifer storage, including whether conserved water from the project could be delivered to Lake Mead via an exchange or augmentation into the Colorado River Aqueduct.
The studies are intended to support federal and state efforts to address drought, declining reservoir levels, and the need for additional water storage and resiliency in Southern California and the Lower Colorado River Basin. The parties will finalize the scope of work and a cost-sharing agreement, and the MOU will run for an initial five-year term with automatic five-year renewals unless terminated in writing.