Cadiz Names Jacinto Hernandez CFO, Grants 1.6M Equity Awards as Speer Retires
CDZI is trading near its 52-week low of $2.895 (14% above the low).
Summary
Cadiz Inc. appointed Jacinto J. Hernandez as its next CFO, effective September 1, 2026, succeeding Stanley E. Speer who is retiring. Hernandez will receive 1.6 million equity awards, including performance-based units tied to stock price targets up to $12.
Key Events · Executive and Board Changes · CDZI
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CFO Succession Announced
Jacinto J. Hernandez appointed EVP of Finance and incoming CFO, effective September 1, 2026, succeeding Stanley E. Speer who retires after 17 years.
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Equity-Heavy Compensation Package
Hernandez to receive 800,000 RSUs (200,000 vested at grant, 600,000 vesting quarterly over 3 years) and 800,000 PSUs vesting at stock price hurdles of $6, $8, $10, and $12 — all above the current $3.29 price.
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Outgoing CFO Severance Terms
Speer gets accelerated vesting of 68,700 RSUs, a new 100,000 RSU grant, potential vesting of 85,000 milestone RSUs if Northern Pipeline financing closes by Dec 31, 2026, and forfeits 150,000 milestone RSUs.
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Advisory Transition Period
Speer to serve as advisor through December 31, 2026, at $10,000 per month to ensure a smooth handover.
Analysis · CDZI · Energy & Transportation
Cadiz is bringing in a new CFO with deep capital markets experience as it transitions from development to commercial execution. The incoming CFO, Jacinto Hernandez, receives a compensation package heavy on equity — 800,000 RSUs and 800,000 PSUs — aligning his incentives with shareholder returns. The PSUs only vest if the stock hits price hurdles up to $12, well above the current $3.29, signaling board confidence in significant upside. Outgoing CFO Stanley Speer gets accelerated vesting on 68,700 RSUs and a new 100,000 RSU grant, but forfeits 150,000 milestone-based RSUs. The transition is planned and amicable, with Speer staying as an advisor through year-end. This is a material leadership change for a company that recently secured major water supply agreements and pipeline rights-of-way, and the equity-heavy package for the new CFO underscores the growth narrative.
At the time of this filing, CDZI was trading at $3.29 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $265.7M. The 52-week trading range was $2.90 to $6.96. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.