CADIZ INC — Form 8-K
Filed July 27, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
Cadiz appointed Jacinto J. Hernandez as CFO effective September 1, 2026 (or upon Form 10-Q filing, whichever is later), succeeding Stanley E. Speer who retires after 17 years. Hernandez receives $400,000 annual base salary, target bonus of 100% of base ($400,000), 800,000 RSUs (200,000 vesting immediately, 600,000 vesting quarterly over 3 years), and 800,000 PSUs vesting upon stock price hurdles ($6/$8/$10/$12 per share). Speer receives $10,000/month advisory fee through December 31, 2026, accelerated vesting of 68,700 service-based RSUs, 100,000 RSUs in lieu of 2026 bonus, and 18 months COBRA reimbursement.
Why this rating
CFO transition is routine for public companies; Hernandez brings relevant expertise. Total equity grant (~1.6M shares) is ~2.5% of outstanding (assuming ~64M shares); material but not transformational. Speer severance (~$273K advisory + equity acceleration) modest relative to $165M market cap. No material business disruption signaled.
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