Stratmann Philipp 4

What Happened

• Philipp Stratmann, President, CEO and Director of Ocean Power Technologies (OPTT), acquired a total of 592,913 shares on January 30, 2026 through the vesting and conversion of restricted stock units (RSUs). The filing shows three award entries (100,162; 100,198; 392,553) and conversion/exercise entries for the two performance-based tranches (100,198 and 392,553) at an exercise price of $0.00. These were awards/vesting events (not open-market purchases or sales), so no cash was paid for the converted shares.

Key Details

• Transaction date: January 30, 2026. Exercise/Conversion price reported: $0.00 for the two derivative conversions.
• Total shares acquired: 592,913 (100,162 time‑based RSUs + 100,198 performance RSUs + 392,553 performance RSUs).
• Post-transaction shares owned: Not specified in the filing.
• Footnotes:
  • F1: 100,162 shares from time‑based RSUs granted January 2024.
  • F2: 100,198 RSUs granted January 31, 2024; vesting based on performance deemed to occur January 30, 2026.
  • F3: 392,553 RSUs granted January 16, 2025; performance vesting deemed to occur January 30, 2026.
  • F4: Each RSU converts to one share of restricted stock.
• Timeliness: Form 4 was filed with a Period of Report and filing date of 2026-01-30, indicating a timely report.

Context

• These transactions are vesting/conversion of RSUs (reported as award/acquisition and conversion of derivative). An exercise price of $0.00 indicates RSUs converted into shares rather than an option being purchased for cash; the report does not show any immediate sale of the shares.
• Vesting of compensation-related equity is routine and reflects compensation fulfillment or achievement of performance targets; it is not the same signal as an open-market insider purchase or sale. The filing does not indicate tax withholding or a 10b5-1 plan.