Director Stock Award for CADIZ INC

Barbara A. Lloyd, a director at CADIZ INC, received 927 shares of common stock on April 1, 2026. These shares were issued under the 2019 Equity Incentive Plan as a substitute for cash compensation for her services as a director during the preceding three-month period. The shares were valued at $5.055 each, and following this transaction, Ms. Lloyd directly owns 22,272 shares of CADIZ INC common stock. This transaction is reported on Form 4.