UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Employee Stock Option(Right To Buy) | Â (2) | 01/20/2024 | Common Stock | 60,000 | $ 2.49 | D | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Heinz David R C/O OCEAN POWER TECHNOLOGIES, INC. 1590 REED ROAD PENNINGTON, NJ 08534 |
 |  |  Chief Operating Officer |  |
/s/ David R. Heinz by Mark A. Featherstone as attorney-in-fact | 06/27/2014 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The Restricted stock grant vests as follows: 15,000 shares upon grant and the remaining 20,000 shares vest in equal installments on June 19, 2014, 2015, 2016, based on attainment of performance goals. Of the tranche that vested on June 19, 2014, 3,700 shares vested and 2,967 shares were forfeited based on the partial attainment of performance goals. |
(2) | The option grant vests as follows: 15,000 options upon grant and the remaining 45,000 options vest in equal installments on June 19, 2014, 2015, 2016, based on attainment of performance goals. Of the tranche that vested on June 19, 2014, 8,325 options vested and 6,675 options were forfeited based on the partial attainment of performance goals. |
 Remarks: Exhibit 24 - Power of Attorney |