---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-21-031190"
form_type: "8-K"
ticker: "OPTT"
cik: "0001378140"
company_name: "Ocean Power Technologies, Inc."
filed_at: "2021-12-13T23:59:59+00:00"
generated_at: "2026-06-28T01:37:00.814416+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Ocean Power Technologies appoints Robert P. Powers as SVP and CFO

## Summary
- Annual base salary $280,000; bonus target 50% of base; 75,000 RSU grant vesting over two years with TSR conditions.
- Severance: 3 months salary if terminated within 12 months (with 6 months worked), else 6 months.
- Powers has 25+ years experience; most recently CFO of Constellation Advisors; previously at Sterling Talent Solutions, Plug Power, Wood Group.
- Joseph DiPietro (Controller) ceases as acting principal financial officer upon Powers' appointment.

## SEC filing metadata
- accession: 0001493152-21-031190
- form_type: 8-K
- ticker: OPTT
- cik: 0001378140
- company_name: Ocean Power Technologies, Inc.
- filed_at: 2021-12-13T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1378140/000149315221031190/0001493152-21-031190-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1378140/000149315221031190/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-21-031190
- JSON: https://secwatch.observer/filing/0001493152-21-031190.json
- Plain text: https://secwatch.observer/filing/0001493152-21-031190.txt

## Key facts
- Executive change
  Joseph DiPietro changed role as acting principal financial officer at Ocean Power Technologies, Inc..
  - Action: ceased serving as acting principal financial officer
  - Role: acting principal financial officer
  source text: Joseph DiPietro, the Company’s Controller, Treasurer and principal accounting officer, will no longer serve as acting principal financial officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315221031190/0001493152-21-031190-index.htm
- Executive change
  Robert P. Powers was appointed as Senior Vice President and Chief Financial Officer at Ocean Power Technologies, Inc..
  - Action: appointed
  - Role: Senior Vice President and Chief Financial Officer
  source text: Robert P. Powers was appointed Senior Vice President and Chief Financial Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315221031190/0001493152-21-031190-index.htm

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