Powers Robert Patrick 4

What Happened
Robert Patrick Powers, Senior Vice President and Chief Financial Officer of Ocean Power Technologies (OPTT), had 437,550 shares withheld on March 5, 2026 to satisfy tax obligations related to vested restricted stock units (RSUs). The withholding was reported at an estimated price of $0.43 per share, for an aggregate value of roughly $189,897. This transaction is recorded as a disposition for tax withholding (transaction code F), not an open-market sale.

Key Details

• Transaction date: 2026-03-05 (reported on Form 4 filed 2026-03-06). Filing appears timely (within the required two-business-day window).
• Withheld shares: 437,550 shares at an estimated $0.43 per share; total ≈ $189,897.
• Transaction code: F — withholding of shares to satisfy tax obligations on vesting (footnote F1).
• Footnote F2: reported amounts are aggregate estimates related to the tax withholding price.
• Shares owned after transaction: not specified in the materials provided.

Context
This was a routine tax-withholding disposition tied to RSU vesting (a common administrative action) rather than a voluntary sale of shares on the open market. Such withholdings generally do not signal a change in insider conviction about the company’s prospects.