---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-041664"
form_type: "8-K"
ticker: "OPTT"
cik: "0001378140"
company_name: "Ocean Power Technologies, Inc."
filed_at: "2023-11-16T23:59:59+00:00"
generated_at: "2026-06-08T01:01:52.315497+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Ocean Power Technologies appoints Matthew Burdyny as CCO with $250K salary and RSU grant

## Summary
- Matthew Burdyny appointed CCO effective Nov 9, 2023; previously VP Global Sales & Marketing at OPTT since March 2022.
- Annual base salary $250,000; eligible for annual bonus targeted at 50% of base (45% for remainder of FY2024).
- Received one-time grant of 25,000 RSUs vesting over two years with time and performance-based components.
- Severance: 6 months base salary if terminated without cause or for good reason; 3 months after change of control.
- Prior experience: 13 years at Teledyne Marine, most recently VP Strategy & Business Development.

## SEC filing metadata
- accession: 0001493152-23-041664
- form_type: 8-K
- ticker: OPTT
- cik: 0001378140
- company_name: Ocean Power Technologies, Inc.
- filed_at: 2023-11-16T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1378140/000149315223041664/0001493152-23-041664-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1378140/000149315223041664/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-041664
- JSON: https://secwatch.observer/filing/0001493152-23-041664.json
- Plain text: https://secwatch.observer/filing/0001493152-23-041664.txt

## Key facts
- Executive change
  Matthew Burdyny was appointed as Chief Commercial Officer at Ocean Power Technologies, Inc..
  - Action: appointed
  - Role: Chief Commercial Officer
  source text: Effective November 9, 2023, as noted in Item 1.01 above, Matthew Burdyny was appointed Chief Commercial Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315223041664/0001493152-23-041664-index.htm

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