4/A: Ocean Power Technologies CEO Stratmann Disposes of Shares to Cover Tax Obligations
SEC Form 4/A
Philipp Stratmann, CEO of Ocean Power Technologies, disposed of shares to satisfy tax obligations upon the vesting of restricted stock units.
Summary
- On January 31, 2025, Ocean Power Technologies CEO Philipp Stratmann disposed of 364,507 shares of common stock to cover tax obligations related to the vesting of restricted stock units.
- The shares were disposed of at an estimated price of $0.93 per share.
- Following the transaction, Stratmann directly owns 513,725 shares of Ocean Power Technologies common stock.
- This Form 4/A is an amendment to a previous filing on February 4, 2025, which inadvertently did not report the withholding of shares for tax obligations.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (share disposal for tax obligations) and doesn't inherently convey positive or negative sentiment about the company's prospects.
Industry Context
Share disposals to cover tax obligations are a common practice among executives receiving equity compensation. This transaction itself doesn't necessarily reflect a change in the executive's confidence in the company's future prospects.
Key Dates
| Date | Description |
|---|---|
| 01/31/2025 | Date of the share disposal transaction. |
| 02/04/2025 | Date of original Form 4 filing that was amended. |
| 03/14/2025 | Date of amended Form 4/A filing. |
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