Current Report Filing (8-k)
11 Février 2022 - 11:29PM
Edgar (US Regulatory)
0001378140
false
0001378140
2022-02-09
2022-02-09
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
8-K
Current
Report Pursuant to Section 13 or 15(d) of
the Securities Act of 1934
Date
of Report (Date of earliest event reported): February 9, 2022
Ocean
Power Technologies, Inc.
(Exact
name of registrant as specified in its charter)
Delaware
|
|
001-33417
|
|
22-2535818
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
Number)
|
|
(I.R.S.
Employer
Identification
No.)
|
28
Engelhard Drive, Suite B
Monroe
Township, New Jersey
|
|
08831
|
(Address
of principal executive offices)
|
|
(Zip
Code)
|
(609)
730-0400
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
|
|
Trading
Symbol (s)
|
|
Name
of each exchange on which registered
|
Common Stock $0.001 Par
Value
|
|
OPTT
|
|
NYSE American
|
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Item
5.02
|
Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
|
On
February 9, 2022, the Board of Directors of Ocean Power Technologies, Inc. (the “Company”) adopted an amendment to the Ocean
Power Technologies, Inc. Employment Inducement Incentive Award Plan (the “Inducement Plan”) to increase the number of shares
of the Company’s common stock available for issuance pursuant to equity awards granted under the Inducement Plan from 25,000 (reflecting
the 1-for-20 reverse stock split that became effective March 11, 2019) to 275,000 shares.
In
accordance with the applicable rules of the NYSE American, awards under the Inducement Plan may only be made to individuals not previously
employees of the Company (or following such individuals’ bona fide period of non-employment with the Company), as an inducement
material to the individuals’ entry into employment with the Company.
A
copy of the amendment to the Inducement Plan is attached as Exhibit 10.1 hereto and incorporated by reference herein.
Item 9.01
|
Financial Statements
and Exhibits.
|
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
|
Ocean
Power Technologies, Inc.
|
|
|
Dated:
February 11, 2022
|
/s/
Philipp Stratmann
|
|
Philipp
Stratmann
|
|
President
and Chief Executive Officer
|
Ocean Power Technologies (AMEX:OPTT)
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