Philipp Stratmann - 18 Jun 2021 Form 4 Insider Report for Ocean Power Technologies, Inc. (OPTT)

Role: President and CEO, Director
Signature: /s/ Philipp Stratmann
Issuer symbol: OPTT
Transactions as of: 18 Jun 2021
Net transactions value: $0
Form type: 4
Filing time: 23 Jun 2021, 17:01:11 UTC
Next filing: 19 Jan 2022
SEC: View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	OPTT	Restricted Stock Unit	Award	$0	+100,000		$0.000000	100,000	18 Jun 2021	Common Stock	100,000		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of the Issuer's restricted stock.
F2	Restricted stock units granted by the Board of Directors of the Issuer as compensation for service as an officer of the Company. The restricted stock units will vest1/6 on the first anniversary of the date of grant, 1/6 on the second anniversary of the date of grant, 1/3 on the first anniversary of the date of grant if certain performance milestones are achieved, and 1/3 on the second anniversary of the date of grant if certain performance milestones are achieved. All vesting provisions are subject to continued employment of the recipient.

Content

Each restricted stock unit represents a contingent right to receive one share of the Issuer's restricted stock.

Restricted stock units granted by the Board of Directors of the Issuer as compensation for service as an officer of the Company. The restricted stock units will vest1/6 on the first anniversary of the date of grant, 1/6 on the second anniversary of the date of grant, 1/3 on the first anniversary of the date of grant if certain performance milestones are achieved, and 1/3 on the second anniversary of the date of grant if certain performance milestones are achieved. All vesting provisions are subject to continued employment of the recipient.