Gerald Cysewski steps down as CEO of Cyanotech; Matthew Custer named new President and CEO effective June 16, 2022

CYANOTECH CORP

Gerald Cysewski resigned as CEO and Director effective June 16, 2022; will continue as CEO Emeritus and Chief Scientific Officer.
Board unanimously appointed Matthew K. Custer as President, CEO, and Director; Custer had been President since May 2021.
Custer's employment agreement provides $195,000 base salary, $25,000 signing bonus, and 50,000 stock options at $3.43 per share.
Options vest over three years; agreement runs through June 16, 2025, with automatic renewal.

item 1.01 item 5.02 item 9.01

Executive movements

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Departed

Gerald Cysewski

Chief Executive Officer

CYAN · CYANOTECH CORP

Effective: 2022-06-16
Successor: Matthew K. Custer
Filed: June 22, 2022, 7:59 PM ET

Effective as of June 16, 2022, Gerald Cysewski has resigned from his position as Chief Executive Officer of Cyanotech Corporation, a Nevada corporation (the “Company”), and as a Director of the Company.

Appointed

Matthew K. Custer

President and Chief Executive Officer

CYAN · CYANOTECH CORP

Effective: 2022-06-16
Filed: June 22, 2022, 7:59 PM ET

Effective immediately upon Mr. Cysewski’s resignation, the Board of the Company has unanimously appointed Matthew K. Custer as President and Chief Executive Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Gerald Cysewski resigned as Chief Executive Officer at CYANOTECH CORP.

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

Effective as of June 16, 2022, Gerald Cysewski has resigned from his position as Chief Executive Officer of Cyanotech Corporation, a Nevada corporation (the “Company”), and as a Director of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Matthew K. Custer was appointed as President and Chief Executive Officer at CYANOTECH CORP.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

Effective immediately upon Mr. Cysewski’s resignation, the Board of the Company has unanimously appointed Matthew K. Custer as President and Chief Executive Officer of the Company.

View on SEC.gov

CYANOTECH CORP filing history →

Source: SEC EDGAR

accession 0001437749-22-015606

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