CADIZ Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$CDZI
Water Supply
Utilities
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 16, 2024
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Registrant’s telephone number, including area code: (213 ) 271-1600
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(e) On April 16, 2024 (the “Effective Date”), Ms. Susan P. Kennedy entered into an amended and restated employment agreement with Cadiz Inc. (the “Company”) in recognition of the modification and expansion of the duties and responsibilities of Ms. Kennedy as Chair of the Board and Chief Executive Officer (“CEO”) effective January 1, 2024, as previous reported on Form 8-K.
For her services as Chair of the Board and CEO, Ms. Kennedy will receive base compensation of $400,000 and an annual performance-based cash bonus with a target equal to 100% of base salary based upon established goals by the Compensation Committee of the Board of Directors of the Company. Additionally, previously issued unvested performance-based stock awards have been cancelled and replaced with a combination of time-based stock awards and performance-based stock awards.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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CADIZ INC.
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By: /s/ Stanley E. Speer
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Stanley E. Speer
Chief Financial Officer
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Date: April 19, 2024