Ocean Power Technologies Files Proxy Statement

TL;DR

OPT proxy statement out - vote on directors & auditors. Your vote matters!

AI Summary

Ocean Power Technologies, Inc. filed its definitive proxy statement on November 18, 2024, for its annual meeting. The filing outlines the proposals to be voted on by shareholders, including the election of directors and the ratification of the appointment of its independent registered public accounting firm. It also details executive compensation and other corporate governance matters.

Why It Matters

This filing provides shareholders with crucial information to make informed voting decisions on company leadership and financial oversight, impacting the company's strategic direction.

Risk Assessment

Risk Level: low — This is a routine proxy filing detailing upcoming shareholder votes and corporate governance, not indicating new financial risks.

Key Players & Entities

• Ocean Power Technologies, Inc. (company) — Registrant
• November 18, 2024 (date) — Filing date

FAQ

Filing Documents

• formdef14a.htm (DEF 14A) — 996KB
• formdef14a_001.jpg (GRAPHIC) — 3KB
• formdef14a_002.jpg (GRAPHIC) — 16KB
• formdef14a_003.jpg (GRAPHIC) — 492KB
• formdef14a_004.jpg (GRAPHIC) — 30KB
• proxy_001.jpg (GRAPHIC) — 610KB
• proxy_002.jpg (GRAPHIC) — 706KB
• 0001493152-24-046552.txt ( ) — 3555KB

From the Filing

DEF 14A 1 formdef14a.htm UNITED SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 14A Proxy Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under § 240.14(a)-12 Ocean Power Technologies, Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant Payment of Filing Fee (Check all boxes that apply): No fee required Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 OCEAN POWER TECHNOLOGIES, INC. 28 Engelhard Drive, Suite B Monroe Township, NJ 08831 NOTICE OF THE 2024 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON THURSDAY, JANUARY 16, 2025 NOTICE IS HEREBY GIVEN that the 2024 Annual Meeting of Stockholders of Ocean Power Technologies, Inc. (the “ Company ,” “ OPT ,” “ we ,” “ us ” or “ our ”) will be held on Thursday, January 16, 2025, at 10:00 a.m., Eastern Time, in virtual meeting format only, via live webcast (including any adjournments, postponements, or continuations thereof, the “ 2024 Annual Meeting ”). The 2024 Annual Meeting will be conducted in a virtual format to provide stockholders the opportunity to attend, irrespective of location. The 2024 Annual Meeting will be held for the following purposes: 1. To elect as directors the five (5) persons named in this Proxy Statement as the Board’s nominees to serve on our Board of Directors (the “ Board ” or the “ OPT Board ”) until the 2025 Annual Meeting of Stockholders and until their successors are duly elected and qualified or until their earlier death, resignation, or removal; 2. To approve an amendment and restatement of the 2015 Omnibus Incentive Plan (the “ 2015 Plan ”) to, among other things, extend the life of the 2015 Plan for an additional 10 years and to increase the number of shares of our common stock available for grant under the 2015 Plan from 7,282,036 to 27,282,036; 3. To consider and take action on the ratification of the selection of Moss Adams LLP as our independent registered public accounting firm for fiscal year ending April 30, 2025; 4. To approve, by a non-binding advisory vote, the compensation of our named executive officers; and 5. To transact such other business as may properly come before the 2024 Annual Meeting. Who Can Vote: Stockholders of record at the close of business on November 18, 2024. How You Can Vote: You may cast your vote via mail, telephone, or the Internet. Certain stockholders may only be able to vote by mail. You may also vote virtually at the 2024 Annual Meeting. Who May Attend: All stockholders are cordially invited to attend the 2024 Annual Meeting by visiting www.cesonlineservices.com/optt25_vm, where you will be able to listen to the meeting live, submit questions, and vote. To attend the 2024 Annual Meeting, you must pre-register at www.cesonlineservices.com/optt25_vm by 10:00 a.m. Eastern Time on January 15, 2025. A list of stockholders entitled to vote at the 2024 Annual Meeting will be available for examination by any stockholder, for any purpose germane to the 2024 Annual Meeting, for ten (10) days prior to the 2024 Annual Meeting during ordinary business hours at 28 Engelhard Drive, Suite B , Monroe Township, NJ 08831, OPT’s principal place of business. OUR BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE “ FOR ALL ” OF THE BOARD’S NOMINEES (TERENCE J. CRYAN, J. PHILIPP STRATMANN, CLYDE W. HEWLETT, DIANA G. PURCEL, AND PETER E. SLAIBY) ON PROPOSAL 1, “ FOR ” PROPOSAL 2, “ FOR ” PROPOSAL 3, AND “ FOR ” PROPOSAL 4 USING THE ENCLOSED PROXY CARD. Whether or not you attend the 2024 Annual Meeting, it is important that your shares be represented at the 2024 Annual Meeting. We encourage you to please vote TODAY to ensure your voice is heard. You may vote by marking, signing, and dating the enclosed proxy card and returning it in the postage-paid envelope. Stockholders may also vote via the Internet or by telephone. For more information and up-to-date postings, please go to www.oceanpowertechnologies.com. Information on our website is not, and will not be deemed to be, a part of this Proxy Statement or incorporated into any of our other filings with the SEC. If you need assistance with voting or have any questions, please contact Sodali & Co. LLC (“ Sodali ”), our proxy solicitor assisting us in connection with the 2024 Annual Meeting. Stockholders may call toll free at (800) 662-5200. Banks and brokers may

View Full Filing

View this DEF 14A filing on SEC EDGAR