{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-023008","form_type":"8-K","ticker":"OPTT","cik":"0001378140","company_name":"Ocean Power Technologies, Inc.","filed_at":"2023-06-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.642684+00:00","generated_at":"2026-06-13T13:49:47.917644+00:00","sec_items":["1.01","3.03","5.03","8.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Ocean Power Technologies adopts Section 382 rights plan to protect NOLs","bullets":["Plan triggers at 4.99% beneficial ownership; dilutes acquirer with 50% discount on common stock purchase.","One preferred stock purchase right per share distributed to holders of record as of July 11, 2023.","Plan expires June 29, 2026, but may be terminated earlier if Board deems no longer necessary.","Existing holders of 4.99% or more as of announcement are grandfathered unless they buy additional shares.","Board retains discretion to exempt any acquisition from triggering the plan."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-023008","json":"https://secwatch.observer/filing/0001493152-23-023008.json","markdown":"https://secwatch.observer/filing/0001493152-23-023008.md","text":"https://secwatch.observer/filing/0001493152-23-023008.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1378140/000149315223023008/0001493152-23-023008-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1378140/000149315223023008/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T13:49:47.917644+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"e0adfa7472307789170beca472590165edded914","claim":"Ocean Power Technologies, Inc.: Adoption of Series A Certificate of Designations designating Series A Participating Preferred Stock in connection with Tax Benefits Preservation Plan (effective 2023-06-30).","evidence_excerpt":"In connection with the adoption of the Tax Benefits Preservation Plan described in Item 1.01 above, on June 29, 2023, the Board approved the Series A Certificate of Designations to designate the Series A Participating Preferred Stock. The Company intends to file the Series A Certificate of Designations with the Secretary of State of the State of Delaware on June 30, 2023.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1378140/000149315223023008/0001493152-23-023008-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2023-06-30"}],"fact_type":"governance_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}