OPT acquires subsea IP for 10.98M shares; FY26 revenue $4.1M, backlog up 58% to $19.8M

Ocean Power Technologies, Inc.

Acquired subsea IP from Columbia Power Technologies for 10,984,848 shares valued at $2.9M based on trailing 30-day VWAP.
FY26 revenue $4.1M; record backlog $19.8M (+58% YoY); sales pipeline $142.3M.
Secured largest contract in history: ~$6.5M multi-PowerBuoy program with U.S. Coast Guard.
Appointed Rear Admiral Joseph DiGuardo as Acting Chairman; Terence Cryan retired after 14 years.
Cash and short-term investments $8.7M at April 30, 2026; terminated ATM sales agreement with Ladenburg Thalmann.

item 1.01 item 1.02 item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed (interim)

Joseph A. DiGuardo Jr.

Acting Chairman

OPTT · Ocean Power Technologies, Inc.

Effective: 2026-07-21
Filed: July 23, 2026, 4:56 PM ET

On July 21, 2026, the Company appointed Rear Admiral Joseph A. “Digger” DiGuardo Jr. to the Board of Directors as Acting Chairman, effective immediately.

Departed

Terence J. Cryan

Chairman of the Board

OPTT · Ocean Power Technologies, Inc.

Effective: 2026-07-20
Successor: Joseph A. DiGuardo Jr.
Filed: July 23, 2026, 4:56 PM ET

On July 20, 2026, Terence J. Cryan notified the Company’s Board of Directors of his decision to retire from the Company’s Board of Directors, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph A. DiGuardo Jr. was appointed as Acting Chairman at Ocean Power Technologies, Inc..

Action: appointed
Role: Acting Chairman

Exact text from the filing

On July 21, 2026, the Company appointed Rear Admiral Joseph A. “Digger” DiGuardo Jr. to the Board of Directors as Acting Chairman, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Terence J. Cryan retired as Chairman of the Board at Ocean Power Technologies, Inc..

Action: retired
Role: Chairman of the Board

Exact text from the filing

On July 20, 2026, Terence J. Cryan notified the Company’s Board of Directors of his decision to retire from the Company’s Board of Directors, effective immediately.

View on SEC.gov

Ocean Power Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-034425

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