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Ownership Document
|
| Schema Version: X0306 |
| Document Type: 4 |
| Period of Report: 11/8/19 |
| Not Subject to Section 16: 1 |
| Issuer: |
| Issuer CIK: 768408 |
| Issuer Name: CYANOTECH CORP |
| Issuer Trading Symbol: CYAN |
| Reporting Owner: |
| Reporting Owner ID: |
| | Owner CIK: 1715607 |
| | Owner Name: Morton Mawae |
| Reporting Owner Address: |
| | Owner Street 1: 73-4460 QUEEN KAAHUMANU HWY #102 |
| | Owner Street 2: |
| | Owner City: KAILUA-KONA |
| | Owner State: HI |
| | Owner ZIP Code: 96740 |
| | Owner State Description: |
| Reporting Owner Relationship: |
| | Is Other? Yes |
| | Other Text: Former CEO and Director |
| Non-Derivative Table: |
| Non-Derivative Transaction: |
| | Security Title: |
| | | Value: Common Stock |
| | Transaction Date: |
| | | Value: 11/8/19 |
| | Transaction Coding: |
| | | Transaction Form Type: 4 |
| | | Transaction Code: A |
| | | Equity Swap Involved? No |
| | | Footnote ID: F1 |
| | Transaction Amounts: |
| | | Transaction Shares: |
| Value: 5,700 |
| | | Transaction Price Per Share: |
| Value: 0 |
| | | Transaction Acquired-Disposed Code: |
| Value: A |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 26,605 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: D |
| Non-Derivative Transaction: |
| | Security Title: |
| | | Value: Common Stock |
| | Transaction Date: |
| | | Value: 11/8/19 |
| | Transaction Coding: |
| | | Transaction Form Type: 4 |
| | | Transaction Code: D |
| | | Equity Swap Involved? No |
| | | Footnote ID: F2 |
| | Transaction Amounts: |
| | | Transaction Shares: |
| Value: 1,444 |
| | | Transaction Price Per Share: |
| Value: 0 |
| | | Transaction Acquired-Disposed Code: |
| Value: D |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 25,161 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: D |
| Derivative Table: |
| Derivative Holding: |
| | Security Title: |
| | | Value: Stock Options |
| | Conversion or Exercise Price: |
| | | Value: 3.3500 |
| | Exercise Date: |
| | | Footnote ID: F3 |
| | Expiration Date: |
| | | Footnote ID: F4 |
| | Underlying Security: |
| | | Underlying Security Title: |
| Value: Common Stock |
| | | Underlying Security Shares: |
| Value: 75,000 |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 75,000 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: D |
| Derivative Holding: |
| | Security Title: |
| | | Value: Stock Options |
| | Conversion or Exercise Price: |
| | | Value: 3.8300 |
| | Exercise Date: |
| | | Footnote ID: F3 |
| | Expiration Date: |
| | | Footnote ID: F4 |
| | Underlying Security: |
| | | Underlying Security Title: |
| Value: Common Stock |
| | | Underlying Security Shares: |
| Value: 45,000 |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 45,000 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: D |
| Footnotes: |
| Footnote - F1: Grant of shares made pursuant to the Separation Agreement between the issuer and the reporting person, dated as of June 3, 2019 (the "Separation Agreement"), a copy of which is attached to and made a part of the issuer's Current Report on Form 8-K, filed with the Securities and Exchange Commission on June 7, 2019; transaction exempt from Section 16(b) of the Securitities Exchange Act of 1934, as amended (the "Exchange Act"), pursuant to Rule 16b-3 thereunder. |
| Footnote - F2: Shares withheld pursuant to the Separation Agreement to satisfy tax withholding obligations; transaction exempt from Section 16(b) of the Exchange Act pursuant to Rule 16b-3 thereunder. |
| Footnote - F3: Pursuant to Separation Agreement, all stock options are fully vested as of May 22, 2019. |
| Footnote - F4: Pursuant to Separation Agreement, all stock options will expire on December 6, 2019. |
| Owner Signature: |
| Signature Name: /s/Laura L. Taylor, by Power of Attorney |
| Signature Date: 11/12/19 |
