---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-007548"
form_type: "8-K"
ticker: "OPTT"
cik: "0001378140"
company_name: "Ocean Power Technologies, Inc."
filed_at: "2024-02-22T23:59:59+00:00"
generated_at: "2026-06-05T18:49:23.572145+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.15
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# OPTT extends HQ lease to Apr 2026; rent rises to $895K then $931K

## Summary
- Lease term extended 18 months through April 30, 2026, from prior Oct 31, 2024.
- Annual rent increases to $895,328 effective Nov 1, 2024, then to $931,141 on Nov 1, 2025.
- Tenant's option to extend for First Extension Term is voided; extension was negotiated.
- Premises accepted as-is; no landlord work required.

## SEC filing metadata
- accession: 0001493152-24-007548
- form_type: 8-K
- ticker: OPTT
- cik: 0001378140
- company_name: Ocean Power Technologies, Inc.
- filed_at: 2024-02-22T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.15
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1378140/000149315224007548/0001493152-24-007548-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1378140/000149315224007548/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-007548
- JSON: https://secwatch.observer/filing/0001493152-24-007548.json
- Plain text: https://secwatch.observer/filing/0001493152-24-007548.txt

## Key facts
- Material Agreements
  Ocean Power Technologies, Inc. amended Amendment with PPF Industrial 28 Engelhard, LLC (effective 2024-02-22).
  - Action: amendment
  - Agreement: lease
  - Counterparty: PPF Industrial 28 Engelhard, LLC
  - Effective: 2024-02-22
  source text: On February 22, 2024, and effective February 8, 2024, Ocean Power Technologies, Inc. (the “Company”) entered into an amendment (the “Amendment”) to its Industrial Lease Agreement with PPF Industrial 28 Engelhard, LLC dated March 31, 2017 (the “Lease”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315224007548/0001493152-24-007548-index.htm

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