Collette N. Kakuk
About Collette N. Kakuk
Collette N. Kakuk is Chief Strategic and Commercial Officer at Cyanotech, age 55, serving since August 2023. She has 25+ years in health and wellness across natural ingredients, dietary supplements, food, beverage and personal care, with prior senior roles at Layn Natural Ingredients, HempRise™, and Sterling Pacific Meat Company; she holds an MBA from the University of Michigan Ross and a BBA from Eastern Michigan University . Company performance context during her tenure: Cyanotech reported Q2 FY2026 net sales up 19.3% year-over-year with gross margin rising to 34.3% (from 25.3%) and swung to operating income; trailing twelve months net loss narrowed materially . Proxy “Pay vs Performance” shows FY2025 TSR value of a fixed $100 investment at $11 and net loss of $3,203k, highlighting ongoing turnaround dynamics .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Layn Natural Ingredients | Senior positions | Not disclosed | Commercial leadership in natural ingredients |
| HempRise™ | Senior positions | Not disclosed | Category expansion and brand development |
| Sterling Pacific Meat Company | Senior positions | Not disclosed | Sales/operations in food sector |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Army National Guard | Service member | Not disclosed | Leadership discipline and public service experience |
Fixed Compensation
Executive-specific compensation figures for Ms. Kakuk are not individually disclosed in the latest proxy. Cyanotech sets executive base salaries using market surveys targeted at the median and reviews annually; bonuses are discretionary and tied to profitability .
| Component | Detail |
|---|---|
| Base salary | Determined via annual market surveys targeted at median; individual figure for Kakuk not disclosed |
| Target bonus % | Not disclosed; bonuses depend on Company profitability and committee discretion |
| Actual bonus paid (FY2025) | Not disclosed for Kakuk; NEOs received no bonus for FY2025 performance |
Performance Compensation
Cyanotech’s executive incentive plan is funded by a percentage of profit before taxes and pays two-thirds in cash and one-third in RSUs; RSUs vest ratably over three years and are granted post 10-K filing . Equity awards under the 2016 Plan may accelerate upon a double-trigger Change in Control; awards can alternatively be assumed or cashed out, per plan terms .
| Metric | Weighting | Target | Actual | Payout Mechanism | Vesting |
|---|---|---|---|---|---|
| Company profitability (profit before taxes) | Bonus mix: 2/3 cash, 1/3 RSUs | Not disclosed | Not disclosed for Kakuk | Discretionary; funded by % of PBT; tiering based on market studies | RSUs vest ratably over 3 years |
Equity Ownership & Alignment
Individual beneficial ownership, vested/unvested equity, options, and pledging/hedging activity for Ms. Kakuk are not disclosed in the proxy. Shares outstanding were 7,232,217 as of June 27, 2025, which is the base for ownership percentage calculations for disclosed persons . The company maintains an Insider Trading Policy and restricts option grants around blackout periods; RSUs do not have exercise-price timing issues .
| Item | Status |
|---|---|
| Total beneficial ownership (shares) | Not disclosed for Kakuk |
| Ownership as % of shares outstanding | Not disclosed; shares outstanding were 7,232,217 |
| Vested vs unvested RSUs | Not disclosed for Kakuk |
| Options (exercisable/unexercisable) | Not disclosed for Kakuk |
| Shares pledged as collateral | Not disclosed |
| Stock ownership guidelines & compliance | Not disclosed |
Employment Terms
| Term | Detail |
|---|---|
| Employment start date | August 2023 |
| Employment type | At-will; no employment agreement (only CEO has contract) |
| Severance provisions | Not disclosed for Kakuk; CEO severance equals up to 12 months base salary under specified conditions |
| Change-of-control | 2016 Plan allows acceleration upon Change in Control with double-trigger; awards may be assumed or cashed out |
| Non-compete / Non-solicit | Not disclosed |
| Clawback provisions | Not disclosed |
Additional Governance and Shareholder Signals
- Compensation Committee consists of independent directors David L. Vied (Chair) and Michael A. Davis; two formal meetings were held in FY2025 .
- 2025 Annual Meeting advisory vote favored “every three years” for future say-on-pay frequency (3Y: 3,953,481; 2Y: 20,675; 1Y: 136,864; abstentions: 29,654; broker non-votes: 1,186,839) .
- Equity plan capacity: 339,638 shares subject to outstanding options/RSUs, weighted average exercise price $2.09; 1,237,031 shares available for future grants under equity plans (632,905 under 2016 Plan; 604,126 under 2024 Plan) .
Performance & Track Record
- Company operating outcomes: Q2 FY2026 net sales $6,976,000 (+19.3% YoY), gross profit $2,393,000 (34.3% margin), operating income $190,000; trailing twelve months: net sales $25,269,000, gross margin 32.0%, net loss improved to $1,776,000 .
- Pay vs Performance context: FY2025 TSR value of fixed $100 investment $11; net loss $(3,203)k, reflecting recovery from FY2024 net loss $(5,267)k .
Investment Implications
- Alignment: Profitability-based incentive funding and RSU vesting over three years tie executive rewards to margin and earnings improvements, supporting pay-for-performance; however, absence of individual disclosure for Kakuk limits precision of alignment assessment .
- Retention risk: At-will status and lack of disclosed individual retention grants elevate mobility risk; plan-level double-trigger acceleration could reduce retention around corporate transactions unless structured with continued service requirements .
- Trading signals: Proxy indicates timely Section 16 compliance but does not detail Form 4 activity or upcoming vesting events for Kakuk; absence of disclosed pledging mitigates an immediate red flag, though explicit confirmation is not available in the proxy .
- Governance backdrop: Triennial say-on-pay cadence and small, independent compensation committee suggest stable oversight; continued operational momentum and margin gains in FY2026 can strengthen incentive pool funding under PBT-linked plan .