Powers Robert Patrick 4

What Happened
Robert Patrick Powers, Chief Financial Officer of Ocean Power Technologies (OPTT), acquired a total of 281,965 shares on January 30, 2026 through the vesting and conversion of restricted stock units (RSUs). The filing shows three award/vesting entries (54,013; 54,032; 173,920 RSUs) and two conversion/exercise entries for 54,032 and 173,920 RSUs at a $0.00 exercise price. These transactions resulted in 281,965 shares being issued to Mr. Powers; no open‑market purchase or sale was reported.

Key Details

• Transaction date: January 30, 2026.
• Shares acquired: 54,013 + 54,032 + 173,920 = 281,965 shares.
• Reported exercise/conversion price: $0.00 for the derivative conversions (reflects RSU settlement, not a cash purchase).
• Footnotes:
  • Time‑based RSUs from Jan 2024 vested (54,013).
  • 54,032 RSUs granted Jan 31, 2024 were performance‑based and deemed to vest Jan 30, 2026.
  • 173,920 RSUs granted Jan 16, 2025 were performance‑based and deemed to vest Jan 30, 2026.
  • Each RSU represents a contingent right to receive one share.
• No tax‑withholding sale or disposition was reported in this filing.
• The filing indicates a late filing (timeliness flagged as 'L'); the report was posted on Jan 30, 2026.
• The filing excerpt does not state total shares beneficially owned by the reporting person following these transactions.

Context
These transactions are the settlement of RSUs (awards converting into shares). The $0.00 exercise price entries reflect conversion/settlement of RSUs rather than a cash option purchase. Because shares were issued via vesting—not sold—this is an acquisition of shares by the executive, not a liquidity event. Late filing delays public visibility of the transaction but does not change the nature of the vesting event.