Stratmann Philipp 4

What Happened

• Philipp Stratmann, President & CEO and a director of Ocean Power Technologies (OPTT), had 901,096 shares withheld to satisfy tax obligations upon the vesting of restricted stock units (RSUs). The filing reports an aggregate estimated price of $0.43 per share for a withholding value of $391,076.
• This was a tax-withholding transaction (not an open-market sale or purchase) executed on March 5, 2026 and reported on Form 4 filed March 6, 2026.

Key Details

• Transaction date: 2026-03-05; Form 4 filed: 2026-03-06 (timely filing).
• Shares withheld: 901,096 at an estimated $0.43 per share; total withholding value reported ~$391,076.
• Transaction code: F — withholding of shares to satisfy tax obligations on vested RSUs (footnote F1).
• Footnote F2 notes the reported price is an aggregate estimate related to tax withholding.
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context

• Withholding to cover taxes on vested RSUs is a routine administrative action and should not be read as a directional buy or sell signal by itself.
• For retail investors, purchases by insiders can be more indicative of bullish sentiment; withholding transactions primarily reflect compensation-tax mechanics rather than investment decisions.