X0306 4 2017-12-04 0000768408 CYANOTECH CORP CYAN 0001369173 Jensen Glenn 73-4460 QUEEN KAAHUMANU HWY #102 KAILUA-KONA HI 96740 1 VP of Manufacturing Cyanotech Corporation Common Stock 2017-12-04 4 M 0 2000 1.60 A 12333 D Cyanotech Corporation Common Stock 375 I By Spouse Cyanotech common stock options 1.60 2017-12-04 4 M 0 2000 0 D 2018-02-21 Cyanotech common stock 2000 0 D Cyanotech common stock options 2.0800 2019-04-30 Cyanotech common stock 10000 10000 D Cyanotech common stock options 3.5800 2021-06-30 Cyanotech common stock 8000 8000 D Cyanotech common stock options 3.8200 2021-08-28 Cyanotech common stock 2000 2000 D Cyanotech common stock options 3.8200 2021-08-28 Cyanotech common stock 35000 35000 D Cyanotech common stock options 5.8400 2022-07-18 Cyanotech common stock 10000 10000 D Restricted stock units Cyanotech common stock 500 500 D Mr Jensen acquired 2,000 stock options on 2/22/2008, of which 200 options became exercisable on 2/22/2009, 400 options became exercisable on 2/22/2010, 600 options became exercisable on 2/22/2011 and 800 options became exercisable on 2/22/2012. Mr Jensen acquired 10,000 stock options on 4/30/2009, of which 1,000 options became exercisable on 4/30/2010, 2,000 options became exercisable on 4/30/2011, 3,000 options became exercisable on 4/30/2012 and 4,000 options became exercisable on 4/30/2013. Mr Jensen acquired 8,000 stock options on 7/1/2011, of which 800 options became exercisable on 7/1/2011, 1,600 options became exercisable on 7/1/2012, 2,400 options became exercisable on 7/1/2013 and 3,200 options became exercisable on 7/1/2014. Mr Jensen acquired 2,000 stock options on 8/29/2011, of which 200 options became exercisable on 8/29/2011, 400 options became exercisable on 8/29/2012, 600 options became exercisable on 8/29/2013 and 800 options became exercisable on 8/29/2014. Mr Jensen acquired 35,000 stock options on 8/29/2011, of which 7,000 options became exercisable on 8/29/2012, 7,000 options became exercisable on 8/29/2013, 7,000 options became exercisable on 8/29/2014, 7,000 options became exercisable on 8/29/2015 and 7,000 options became exercisable on 8/29/2016. Mr Jensen acquired 10,000 stock options on 7/19/2012, of which 2,500 options became exercisable on 7/19/2013, 2,500 options became exercisable on 7/19/2014, 2,500 options became exercisable on 7/19/2015 and 2,500 options became exercisable on 7/19/2016. Each restricted stock unit represents the contingent right to receive one (1) share of Cyanotech common stock. The restricted stock units shall vest as to 167 shares on 4/5/2018, 167 shares on 4/5/2019 and 166 shares on 4/5/2020, in each case subject to continued service with Cyanotech on the vesting date. /s/ Dan Sprague, by Power of Attorney 2018-01-05