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

Role: President and CEO, Director
Signature: /s/ Philipp Stratmann
Stock symbol: OPTT
Transactions as of: Jun 18, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/23/2021, 05:01 PM
Next filing: Jan 19, 2022

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	+100K		$0.00	100K	Jun 18, 2021	Common Stock	100K		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.