secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2023-11-16T23:59:59+00:00
Accession:  0001493152-23-041664
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315223041664/0001493152-23-041664-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315223041664/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-041664

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