[Form 4] CYANOTECH CORP Insider Trading Activity

Rhea-AI Filing Summary

Jennifer A.S. Miyashiro, an officer of Cyanotech Corp (CYAN), was granted 50,000 stock options on 09/12/2025. The options carry an exercise price of $0.29 and expire on 09/12/2035. Following the grant, Ms. Miyashiro beneficially owns 50,000 underlying shares directly. The options vest in three tranches: 16,666 shares on 09/12/2026, 16,667 shares on 09/12/2027 and 16,667 shares on 09/12/2028, each subject to continued service with Cyanotech on the vesting date. The Form 4 was signed by Linda Tanoai by power of attorney on 09/15/2025.

Positive

• 50,000 option grant disclosed with full vesting schedule provided
• Exercise price, expiration date, and post-transaction ownership are explicitly reported
• Form signed via power of attorney, indicating an executed and filed disclosure

Negative

• None.

Insights

Financial Analyst

TL;DR: Officer received a 50,000-option grant with a 10-year term and staged vesting, a routine compensation event for executives.

The Form 4 documents a non-derivative compensation-related option grant to an officer of Cyanotech (CYAN). The grant is for 50,000 options at a $0.29 exercise price expiring 09/12/2035, with vesting over three annual tranches beginning 09/12/2026, contingent on continued service. This increases the officer's direct beneficial ownership to 50,000 shares. There are no disclosed cash proceeds or sales. For investors, this is a typical equity-based compensation disclosure; it alters share-based incentive alignment but does not by itself change reported financial results.

Corporate Governance Expert

TL;DR: Option grant follows standard service-based vesting; filing shows routine insider disclosure and POA signature.

The filing clearly identifies the reporting person as an officer (CFO, VP Finance & Administration, Treasurer) and records a 50,000-option grant with service-based vesting and a ten-year term. The Form 4 is properly executed via a power of attorney. The disclosure is complete regarding vesting schedule and post-transaction beneficial ownership. There are no indications of accelerated vesting, dispositions, or related-party transactions disclosed in this filing.

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^*

Miyashiro Jennifer A.S.

(Last) (First) (Middle)

73-4460 QUEEN KAAHUMANU HWY #102

(Street)

KAILUA-KONA HI 96740

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CYANOTECH CORP [ CYAN ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CFO, VP Fin & Admin, Treasurer

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

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

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
Cyanotech Common Stock Options	$0.29	09/12/2025		A		50,000		(1)	09/12/2035	Cyanotech Common Stock	50,000	$0	50,000	D

Explanation of Responses:

1. The stock options applicable vesting date as to 16,666 shares on September 12, 2026, 16,667 shares on September 12, 2027 and 16,667 shares on September 12, 2028 in each case subject to the continued service with Cyanotech on the vesting date.

	/s/ Linda Tanoai, by Power of Attorney	09/15/2025
	** 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.

FAQ

What did Cyanotech (CYAN) report on this Form 4?

The company reported a grant of 50,000 stock options to officer Jennifer A.S. Miyashiro on 09/12/2025.

What are the key terms of the options granted to the CYAN officer?

The options have an exercise price of $0.29, expire on 09/12/2035, and vest in three tranches in 2026, 2027, and 2028.

How many shares does the reporting person beneficially own after the transaction?

Following the reported transaction, the reporting person beneficially owns 50,000 shares directly.

Who signed the Form 4 for Cyanotech (CYAN)?

The Form 4 was signed by Linda Tanoai by power of attorney on 09/15/2025.

What is the vesting schedule for the granted options?

Vesting is 16,666 shares on 09/12/2026, 16,667 shares on 09/12/2027, and 16,667 shares on 09/12/2028, each contingent on continued service.