secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2021-12-13T23:59:59+00:00
Accession:  0001493152-21-031190
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315221031190/0001493152-21-031190-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315221031190/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-031190

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer