Cadiz Inc. announced a leadership transition as Chief Financial Officer Stanley E. Speer will retire on September 1, 2026, and serve as an advisor through December 31, 2026. Jacinto J. Hernandez, currently Executive Vice President of Finance, will succeed Speer as CFO, Principal Financial Officer, Principal Accounting Officer, and Secretary effective September 1, 2026. Hernandez's compensation includes a $400,000 annual base salary, a 100% target cash bonus, and inducement awards consisting of 800,000 restricted stock units and 800,000 performance stock units. Speer's separation agreement includes a monthly advisory fee of $10,000 and specific RSU acceleration terms. Cadiz Inc. is a water solutions and natural resources company providing water supply, storage, and treatment in the Southwest.

Cadiz Inc. received an effective Right-of-Way Grant from the Bureau of Land Management to convert its 220-mile Northern Pipeline to water conveyance. The company paid approximately $2.5 million in rent, fees, and a performance and reclamation bond to satisfy requirements. The Northern Pipeline has a capacity to deliver up to 25,000 acre-feet of water per year, with 85% of capacity (21,275 acre-feet) already contracted with water providers in Inland Southern California. Cadiz Inc. operates in the water resource management and infrastructure industry.