---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-21-023600"
form_type: "8-K"
ticker: "OPTT"
cik: "0001378140"
company_name: "Ocean Power Technologies, Inc."
filed_at: "2021-09-24T23:59:59+00:00"
generated_at: "2026-06-29T01:29:50.433063+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Ocean Power Technologies CFO resigns; controller DiPietro named acting CFO

## Summary
- Matthew Shafer resigned as SVP, CFO, Treasurer effective Sept 23, 2021; employment letter terminated.
- Joseph DiPietro, previously Controller, appointed Treasurer, principal accounting officer and acting principal financial officer.
- DiPietro holds a BS in Finance, CPA; most recently VP-Finance at Myos Corp; with OPT since Aug 2021.
- DiPietro's new annual salary is $190,000 with a target bonus of 25% of salary.

## SEC filing metadata
- accession: 0001493152-21-023600
- form_type: 8-K
- ticker: OPTT
- cik: 0001378140
- company_name: Ocean Power Technologies, Inc.
- filed_at: 2021-09-24T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 5.02, 1.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1378140/000149315221023600/0001493152-21-023600-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1378140/000149315221023600/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-21-023600
- JSON: https://secwatch.observer/filing/0001493152-21-023600.json
- Plain text: https://secwatch.observer/filing/0001493152-21-023600.txt

## Key facts
- Executive change
  Matthew T. Shafer resigned as Senior Vice President, Chief Financial Officer, and Treasurer at Ocean Power Technologies, Inc..
  - Action: resigned
  - Role: Senior Vice President, Chief Financial Officer, and Treasurer
  source text: On September 21, 2021, but effective September 23, 2021, Matthew T. Shafer, Senior Vice President, Chief Financial Officer, and Treasurer, as well as principal financial officer and principal accounting officer, of the Company, resigned from the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315221023600/0001493152-21-023600-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.