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AI brief of an SEC Form 8-K · Ocean Power Technologies, Inc. (OPTT)

Ocean Power Technologies CFO Robert Powers departs; interim CFO Victoria Hay named

Neutral Impact 4 of 5 leadership Written later

Ocean Power Technologies said Chief Financial Officer Robert Powers left the role on September 30, 2026, by mutual agreement with the Board. Victoria Hay, co-owner and President of consulting firm Flexible Consulting, is serving as interim CFO, Principal Financial Officer and Principal Accounting Officer under an engagement agreement, and the Board is searching for a permanent CFO. The change affects who leads the company's finance function until a permanent CFO is named.

Key points

  • Robert Powers departed as CFO effective September 30, 2026, upon mutual agreement with the Board, and remains employed through October 14, 2026 to assist with the transition.
  • Victoria Hay, 43, began serving as interim CFO effective September 30, 2026, through an engagement agreement with Flexible Consulting.
  • Flexible Consulting will receive $30,000 per month for Hay's services, plus monthly expense reimbursement.
  • Powers will receive six months of base salary, the balance of his fiscal 2026 bonus, and health benefits through October 31, 2026.

The filing

CompanyOcean Power Technologies, Inc. (OPTT)
Form8-K, current report
Filed with the SECOct 6, 2026, 5:59 PM ET
Accession number0001493152-26-046028

Items reported: 1.01 Material Definitive Agreement1.02 Termination of Material Agreement5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 06, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.