PAGLIARA TRACY D 4

What Happened
Tracy D. Pagliara, Senior Vice President and General Counsel of Ocean Power Technologies (OPTT), reported three award/vesting transactions on 2026-01-16 totaling 838,486 shares. The filing shows (1) 291,974 shares from time‑based RSU vesting, (2) 273,256 shares from time‑based RSUs (reported as acquired), and (3) 273,256 shares reported as a derivative award at $0.00 (performance‑based RSUs vested and deemed to occur 2026-01-16). No cash was paid for these shares; they represent compensation vesting rather than an open‑market purchase or sale.

Key Details

• Transaction date(s): January 16, 2026; Form 4 filed January 21, 2026.
• Reported shares: 291,974 + 273,256 + 273,256 = 838,486 RSUs/shares acquired via vesting.
• Price/Value: Reported $0.00 for the derivative/performance award; vesting awards generally have no purchase price.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes: F1—each RSU converts to one share; F2—some shares from time‑based RSUs granted Jan 2025; F3—273,256 RSUs were performance‑based granted Jan 16, 2025, with vesting deemed to occur Jan 16, 2026.
• Timeliness: Filing was submitted Jan 21, 2026 (appears to be one business day late relative to the usual two‑business‑day Form 4 deadline).

Context
These entries are awards/vestings (compensation) not purchases or sales. RSU vesting increases the insider’s share position but does not necessarily signal a market view; performance RSUs vesting indicates company goals were met per the grant terms. The $0 derivative entry simply reflects receipt of shares upon vesting rather than a cash transaction.