X0306 4 2018-01-24 0000768408 CYANOTECH CORP CYAN 0001715607 Morton Mawae 73-4460 QUEEN KAAHUMANU HWY #102 KAILUA-KONA HI 96740 1 1 CEO Cyanotech common stock options 3.83 2018-01-24 4 A 0 45000 0 A 2028-01-24 Cyanotech common stock 45000 45000 D Cyanotech common stock options 3.3500 2027-07-14 Cyanotech common stock 75000 75000 D The stock options shall vest as to 15,000 shares on January 24, 2019, 15,000 shares on January 24, 2020 and 15,000 shares on January 24, 2021, in each case subject to continued service with Cyanotech on the vesting date. The stock options shall vest as to 25,000 shares on July 14, 2018, 25,000 shares on July 14, 2019 and 25,000 shares on July 14, 2020, in each case subject to continued service with Cyanotech on the vesting date. /s/ Dan Sprague, by Power of Attorney 2018-01-24