Powers Robert Patrick 4

What Happened
Robert Patrick Powers, Chief Financial Officer of Ocean Power Technologies (OPTT), received an award of 427,447 restricted stock units (RSUs) on January 27, 2026. The filing reports an award/acquisition (Code A); no per‑share price or immediate cash value is provided. These RSUs are compensation, not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-01-27; Form 4 filed 2026-01-28 (timely filing).
• Transaction type/code: A — Award/Grant (acquisition of RSUs).
• Units granted: 427,447 restricted stock units.
• Price/value: Not stated in the filing (N/A).
• Vesting: Time‑based vesting schedule across 2027, 2028 and 2029 (footnote).
• Instrument: Each RSU is a contingent right to receive one share of the issuer’s restricted stock upon vesting.
• Shares owned after transaction: Not disclosed in this filing.
• Filing timeliness: Filed the business day after the grant — appears timely (not marked late).

Context
RSUs are a form of equity compensation that convert to actual shares only when they vest and are not an immediate market purchase or sale. Such grants compensate and retain executives and do not by themselves signal an insider buying stock in the open market. Tax withholding, forfeiture conditions, or any subsequent sale of vested shares would be reported in later filings.