4/A: Ocean Power Technologies Executive Matthew Burdyny Reports Share Withholding for Tax Obligations
SEC Form 4/A
Matthew Burdyny, Chief Commercial Officer of Ocean Power Technologies, reports the withholding of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On January 31, 2025, Matthew Burdyny, Chief Commercial Officer of Ocean Power Technologies, Inc., had 112,533 shares withheld to satisfy tax obligations upon the vesting of restricted stock units.
- The price per share for the tax withholding was estimated at $0.93.
- Following the transaction, Burdyny beneficially owns 173,126 shares of common stock.
- This Form 4/A is an amendment to a previous filing on February 4, 2025, which inadvertently omitted the reporting of the share withholding for tax obligations.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing regarding stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the withholding of shares for tax purposes, which is a normal part of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 01/31/2025 | Date of transaction: Share withholding for tax obligations. |
| 02/04/2025 | Date of original Form 4 filing which inadvertently did not report the withholding of shares. |
| 03/14/2025 | Date of amended Form 4/A filing. |
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