Cyanotech (CYAN) Proxy Filing summary
Event summary combining transcript, slides, and related documents.
Proxy Filing summary
2 Dec, 2025Executive summary
The annual meeting is scheduled for August 21, 2025, with four main proposals: electing four directors, ratifying the independent auditor, an advisory vote on say-on-pay frequency, and other business as may arise.
Shareholders of record as of June 27, 2025, are entitled to vote, with 7,232,217 shares outstanding.
Voting can be done by mail, phone, internet, or in person, and proxies may be revoked at any time before voting.
Voting matters and shareholder proposals
Proposals include electing four directors, ratifying BPM LLP as auditor for FY 2026, and an advisory vote on the frequency of say-on-pay votes, with the board recommending every three years.
Shareholders can submit proposals for the 2026 meeting by March 12, 2026, and nominations must follow bylaw procedures.
Board of directors and corporate governance
The board consists of four nominees: Matthew K. Custer, Michael A. Davis, David M. Mulder, and David L. Vied, all with significant industry and management experience.
Three directors are independent; the CEO is not considered independent.
The board separates the CEO and chairman roles and has Audit, Compensation, and Nominating & Corporate Governance Committees, all chaired by independent directors.
The board met four times in FY 2025, with 100% attendance by directors.
Latest events from Cyanotech
- Annual meeting to elect directors, approve equity plan, and ratify auditor, with governance focus.CYAN
Proxy Filing - Key votes include director elections, a new equity plan, and auditor ratification for 2024.CYAN
Proxy Filing - Q2 sales up 19.3%, gross margin at 34.3%, operating income positive, but liquidity risks remain.CYAN
Q2 2026 - Gross margin rose to 30.5% and net loss narrowed despite flat Q1 FY2026 revenue.CYAN
Q1 2026 - Revenue up 5% and losses narrowed, but going concern risk remains due to liquidity and debt issues.CYAN
Q4 2025 - Q2 FY2025 saw lower sales, margin compression, and ongoing liquidity challenges.CYAN
Q2 2025 - Net sales up 15% to $5.9M, but gross margin and liquidity pressures persist.CYAN
Q1 2025 - Flat sales, lower margins, and new product launches amid cost pressures and secured financing.CYAN
Q4 2024 - Q3 sales rose 10.6% YoY, but ongoing losses and liquidity risks raise going concern doubts.CYAN
Q3 2025