As of November 6, 2026, Ocean Power Technologies, Inc. has reported 2 leadership change filings to the SEC under Item 5.02 of Form 8-K, from July 23, 2026 to September 17, 2026, naming 1 departure. The latest filing names Terence J. Cryan, leaving (Form 8-K, September 17, 2026).
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Ocean Power Technologies, Inc. reported changes in 2 filings among its directors and officers to the SEC on Form 8-K, Item 5.02, from 2026-07-23 to 2026-09-17. They name 1 person. Every row below is cited to the filing it comes from, and this page adds each new change as Ocean Power Technologies, Inc. files it.
Timeline
| Filed | In / out | Person | Role | Effective | Source |
|---|---|---|---|---|---|
| 2026-09-17 | Reported | not named in the filing | 8-K, 2026-09-17 | ||
| 2026-07-23 | Out | 8-K, 2026-07-23 |
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Reported
The foregoing summary is qualified in its entirety by reference to the full and complete terms of the Pagliara Employment Agreement which will be filed with the Company's next Quarterly Report on Form 10-Q. Weed Employment Agreement Effective September 14, 2026, in connection with his appointment as Chief Operating Officer of the Company as described under Item 5.02 below, Jason Weed entered into an Employment Agreement (the "Weed Employment Agreement") with the Company.
- below, Tracy Pagliara entered into a new employment agreement with the Company (the "Pagliara Employment Agreement"), replacing the agreement entered into on January 16, 2025.
- Pursuant to the Employment Agreement, Mr. Pagliara will receive a restricted stock unit grant of 75,000 shares of the Company's common stock.
- Mr. Pagliara will receive certain compensation in connection with a separation from the Company, and is also subject to covenants regarding non-competition, non-solicitation and confidentiality.
- Pursuant to the Weed Employment Agreement, Mr. Weed will receive an annual base salary not to exceed $400,000, is eligible for an annual, discretionary, performance-based bonus targeted at 75% of base salary on such terms and conditions as may be determined by the Board or its Compensation Committee, and is eligible to receive long-term incentive equity based awards targeted at 75% of base salary, pursuant to the Company's 2015 Omnibus Incentive Plan, subject to such terms and conditions as may be determined by the Board or its Compensation Committee.
- Pursuant to the Employment Agreement, Mr. Weed will receive a restricted stock unit grant of 50,000 shares of the Company's common stock.
- Mr. Weed will receive certain compensation in connection with a separation from the Company, and is also subject to covenants regarding non-competition, non-solicitation and confidentiality.
Departing: Terence J. Cryan
On July 20, 2026, Terence J. Cryan notified the Company's Board of Directors of his decision to retire from the Company's Board of Directors, effective immediately.
- On July 21, 2026, the Company appointed Rear Admiral Joseph A. "Digger" DiGuardo Jr. to the Board of Directors as Acting Chairman, effective immediately.
- He previously served as an advisory board member since 2024.
- Mr. DiGuardo will also serve on the Board's Quality Health and Safety Committee.
- Mr. DiGuardo, age 58, is a highly accomplished senior executive leader with over three decades of distinguished service in national security, counterterrorism, and counter-proliferation.
- As a retired Rear Admiral in the U.S. Navy, Mr. DiGuardo culminated his military career leading the Navy Expeditionary Combat Command (NECC), overseeing 20,000 active and reserve personnel and a budget of $2.1B annually.
- His leadership spanned complex, high-risk operations, including special operations to Counter Weapons of Mass Destruction (CWMD) mission, Counter Terrorism, Navy Expeditionary Operations and Fleet support worldwide.
- Prior to that he was the Director, U.S. Special Operations Command (USSOCOM J10) Countering Weapons of Mass Destruction (CWMD) Directorate and the DoD CWMD Coordinating Authority with responsibility to plan, assess, and recommend global CWMD priorities aligned to National Defense Strategy and coordinate with U.S. Government and Foreign Agencies to disrupt state and non- state proliferation and terrorism.
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Where this comes from
A public company must file a current report on Form 8-K with the SEC within four business days when a director leaves or is elected, or when its chief executive, chief financial, chief accounting or chief operating officer, or another named executive, departs or is appointed. That disclosure goes under Item 5.02 of the report.
Every change on this page is taken from one of those filings and quoted in the company's own words, with a link to the filing, so it can be checked at the source. Where a filing names the person, the role and the date a change takes effect, they are shown beside the quote. Where it does not, the quote stands on its own. A filing states what changed; it rarely states why, and neither does this page.
