4/A: Ocean Power Technologies CFO Robert Powers Amends Form 4 to Correctly Report Tax Withholding
SEC Filing Amendment
Robert Powers, Senior VP and CFO of Ocean Power Technologies, files an amended Form 4 to accurately reflect the withholding of shares for tax obligations upon the vesting of restricted stock units.
Summary
- Robert Powers, the Senior VP and CFO of Ocean Power Technologies, Inc. [OPTT], filed an amended Form 4 with the SEC on March 14, 2025.
- The amendment corrects an error in the original Form 4 filed on February 4, 2025, which did not report the withholding of shares to cover tax obligations related to the vesting of restricted stock units.
- On January 31, 2025, 29,542 shares of common stock were withheld to satisfy these tax obligations, resulting in Mr. Powers beneficially owning 427,862 shares directly.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing amendment, indicating standard corporate governance practices. The sentiment is neutral as it corrects a previous error.
Industry Context
Form 4 filings are a routine part of compliance for corporate insiders and are used to disclose transactions in company stock. Amendments are sometimes necessary to correct errors or omissions in the original filings.
Key Dates
| Date | Description |
|---|---|
| 01/31/2025 | Date of transaction: Withholding of shares for tax obligations. |
| 02/04/2025 | Date of original Form 4 filing (incorrect). |
| 03/14/2025 | Date of amended Form 4 filing. |
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