---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-012477"
form_type: "8-K"
ticker: "CDZI"
cik: "0000727273"
company_name: "CADIZ INC"
filed_at: "2024-04-19T23:59:59+00:00"
generated_at: "2026-06-03T17:29:21.117539+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Cadiz CEO Kennedy gets new employment agreement with expanded equity incentives

## Summary
- Base salary $400,000; annual cash bonus target 100% of base based on performance goals.
- 450,000 unvested PSUs cancelled; replaced with 700,000 time-vesting RSUs (quarterly through 2026).
- 600,000 milestone RSUs tied to CEQA, FLPMA permits, and water purchase agreements (5-year horizon).
- 300,000 PSUs vest at $15/share stock price hurdle; subject to 2019 Plan amendment and stockholder approval.
- Equity grants condition on amendment of 2019 Plan to increase authorized shares.

## SEC filing metadata
- accession: 0001437749-24-012477
- form_type: 8-K
- ticker: CDZI
- cik: 0000727273
- company_name: CADIZ INC
- filed_at: 2024-04-19T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/727273/000143774924012477/0001437749-24-012477-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/727273/000143774924012477/cdzi20240419_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-012477
- JSON: https://secwatch.observer/filing/0001437749-24-012477.json
- Plain text: https://secwatch.observer/filing/0001437749-24-012477.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.