Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Lundeen James Random
 2. Date of Event Requiring Statement (Month/Day/Year)
07/03/2012		 3. Issuer Name and Ticker or Trading Symbol
CYANOTECH CORP [CYAN]
(Last)
(First)
(Middle)
73-4460 QUEEN KAAHUMANU HWY #102		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP and General Mgr -Mainland
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

KAILUA-KONA, HI 96740		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common stock 9,986
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Common stock options   (1) 07/02/2022 Common stock 105,000 $ 7.08 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Lundeen James Random
73-4460 QUEEN KAAHUMANU HWY #102
KAILUA-KONA, HI 96740		       VP and General Mgr -Mainland  

Signatures

/s/ Karyn R. Okada, by power of attorney (as attached as Exhibit 24) 08/02/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) 15,000 options shall become exercisable on 2013-07-03, 15,000 options shall become exercisable on 2014-07-03, 15,000 options shall become exercisable on 2015-07-03, 15,000 options shall become exercisable on 2016-07-03, 15,000 options shall become exercisable on 2017-07-03, 15,000 options shall become exercisable on 2018-07-03, and 15,000 options shall become exercisable on 2019-07-03. All options are subject to the terms of Cyanotech Corporation's 2005 Stock Option Plan, as amended, and to the terms of a stock option agreement executed by Mr. Lundeen.

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