Business Context and Reporting Period
This Form 8-K is a current report filed by Ocean Power Technologies, Inc. (OPTT) on December 7, 2021. The filing addresses a corporate governance event regarding the scheduling of the company's 2021 Annual Meeting of Stockholders.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a procedural update regarding the annual meeting and does not contain financial performance data.
Material Changes
The Board of Directors determined to postpone the 2021 Annual Meeting of Stockholders from December 13, 2021, to December 14, 2021. The new start time is set for 2 PM Eastern. The record date of October 15, 2021, remains unchanged.
Guidance, Outlook, and Management Commentary
The Board stated that the postponement was decided to provide the Company with additional time to solicit shareholder votes. The Company filed its definitive proxy statement on October 15, 2021, and intends to file an amendment to this statement with the SEC containing details regarding the postponement. No financial guidance or risk factors were disclosed in this specific filing.
Investor Verification Checklist
- Verify the new date and time for the 2021 Annual Meeting (December 14, 2021, at 2 PM Eastern).
- Confirm that the record date remains October 15, 2021.
- Monitor for the upcoming amendment to the definitive proxy statement filed with the SEC.
- Review the attached press release (Exhibit 99.1) for any additional context on the vote solicitation process.