Ocean Power (OPTT) Director Terence Cryan Receives 377,973 RSU Award

What Happened

Terence Cryan, a director of Ocean Power Technologies, was granted 377,973 restricted stock units (RSUs) on January 27, 2026. The Form 4 lists this as an award/acquisition (code A); no purchase price is reported because these are grant awards rather than open‑market buys. The filing was submitted on January 28, 2026.

Key Details

• Transaction date: 2026-01-27; Form 4 filed: 2026-01-28.
• Grant size: 377,973 RSUs (price: N/A — these are compensation awards).
• Footnote F1: Each RSU represents a contingent right to receive one share of the issuer's restricted stock.
• Footnote F2: These RSUs are subject to time‑based vesting and represent shares deliverable in 2027.
• Shares owned after the transaction: not disclosed in the provided filing.
• Transaction type: Award (compensation), not an open‑market purchase or sale.

Context

RSU grants are a form of compensation and are commonly used to align executives/directors with shareholder interests; they do not necessarily indicate personal buying or selling intent. Because these RSUs vest in 2027, the actual shares will be issued only if vesting conditions are met. This was a director award, not a reported 10% owner transaction.