SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
  
 Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Burdyny Matthew
(Last) (First) (Middle)
C/O OCEAN POWER TECHNOLOGIES, INC.
28 ENGELHARD DRIVE, SUITE B
(Street)
MONROE TOWNSHIP NJ 08831
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Ocean Power Technologies, Inc. [ OPTT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Commercial Officer
3. Date of Earliest Transaction (Month/Day/Year)
01/16/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/16/2025 M 36,030(3) A (1) 95,234 D
Common Stock 01/16/2025 M 85,126(4) A (1) 180,360 D
Common Stock 01/16/2025 M 53,811(6) A (1) 234,171 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Unit (1) 01/16/2025 A 776,614 (2) (2) Common Stock 776,614 $0 776,614 D
Restricted Stock Unit (1) 01/16/2025 M 36,030 (3) (3) Common Stock 36,030 $0 36,030 D
Restricted Stock Unit (1) 01/16/2025 M 85,126 (4) (4) Common Stock 85,126 $0 85,126 D
Restricted Stock Unit (1) 01/16/2025 A 491,803 (5) (5) Common Stock 491,803 $0 491,803 D
Explanation of Responses:
1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's restricted stock.
2. Restricted stock units granted by the Board of Directors of the Issuer as compensation for service as an officer of the Issuer. The restricted stock units will vest in full on the date of the first annual shareholders meeting following the grant date or one year after the grant date, whichever is earlier.
3. On January 19, 2023, the reporting person was granted 36,030 restricted stock units, vesting based on achievement of certain performance criteria. Vesting of such criteria was deemed to occur on January 16, 2025.
4. On February 1, 2024, the reporting person was granted 85,126 restricted stock units, vesting based on achievement of certain performance criteria. Vesting of such criteria was deemed to occur on January 16, 2025.
5. Restricted stock units granted by the Board of Directors of the Issuer as compensation for service as an officer of the Issuer. The restricted stock units will vest in full on the date of the first annual shareholders meeting following the grant date or one year after the grant date, whichever is earlier.
6. Shares acquired upon the time based vesting of restricted stock units granted in January 2023 and 2024.
/s/ Matthew Burdyny 01/21/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
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