Business Context and Reporting Period
This Form 8-K was filed by Ocean Power Technologies, Inc. on November 15, 2018, reporting events occurring on that date. The company is incorporated in Delaware and operates from Monroe Township, New Jersey.
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 corporate governance and personnel changes.
Material Changes
The primary material change reported is the departure of a senior officer:
- Resignation: Christopher A. Phebus, Vice President of Engineering, resigned effective November 30, 2018.
- Succession: Responsibilities were transitioned to Anthony Neil Williams, the Company's Director of Engineering.
- Successor Background: Mr. Williams possesses over 36 years of experience in ocean engineering and offshore oil and gas.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, management commentary on future performance, or discussion of risks and contingencies beyond the operational transition of engineering duties.
Investor Verification Checklist
- Confirm the effective date of Mr. Phebus's resignation (November 30, 2018).
- Verify the internal transition plan for engineering responsibilities under Mr. Williams.
- Review subsequent filings for any impact on ongoing engineering projects or product development timelines.