Monitor the permanent CFO search timeline and candidate quality — a lengthy search or appointment of an interim-only candidate could signal difficulty attracting talent. The departure is orderly with transition support, reducing near-term disruption risk.
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Executive Summary
Ocean Power Technologies CFO Robert Powers departed by mutual agreement on September 30, 2026. The company engaged Flexible Consulting LLC to provide Victoria Hay as interim CFO at $30,000/month while a permanent CFO search is underway. The outgoing CFO receives six months' base salary plus his fiscal 2026 bonus balance and health benefits through October 31, 2026, in exchange for a general release and transition support through October 14, 2026.
Key Facts
- CFO Robert Powers departed effective September 30, 2026, upon mutual agreement with the Board
- Victoria Hay appointed interim CFO via engagement with Flexible Consulting LLC at $30,000/month plus expense reimbursement
- Powers receives six months' base salary, balance of fiscal 2026 bonus, and health benefits through October 31, 2026
- Board is conducting a search for a permanent CFO
- Powers will remain employed through October 14, 2026 for transition assistance
Financial Impact
Outgoing CFO severance includes six months' base salary and remaining fiscal 2026 bonus (amounts not disclosed); interim CFO costs $30,000/month
Risk Factors
- Prolonged CFO vacancy could strain financial reporting and investor relations
- Interim CFO arrangement adds $30,000/month in consulting costs
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-046028 |
| Document: 0001493152-26-046028-index-headers.html | 0001493152-26-046028 |
| Document: 0001493152-26-046028-index.html | 0001493152-26-046028 |
| Document: 0001493152-26-046028.txt | 0001493152-26-046028 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | Press Release | $0.6040 | awaiting T+5 | — | $0.6400 (+5.96%) |
Oct 15, 2026 12d ago | EFFECT | $0.6878 $0.6496 | ▼ −5.55% | ▼ −4.54% | $0.6400 (−6.95%) |
Oct 14, 2026 13d ago | 424B5 | $0.6878 $0.6496 | ▲ +5.55% | ▲ +4.54% | $0.6400 (+6.95%) |
Oct 7, 2026 20d ago | 8-K/A | $0.9001 $0.6878 | ▼ −23.59% | ▼ −23.31% | $0.6400 (−28.90%) |
Oct 6, 2026 21d ago | 8-K | $0.9600 $0.6600 | ▼ −31.25% | ▼ −30.27% | $0.6400 (−33.33%) |
Sep 25, 2026 4w ago | S-1/A | $1.67 $0.9594 | ▼ −42.55% | ▼ −43.76% | $0.6400 (−61.68%) |
Sep 25, 2026 4w ago | 8-K | $1.67 $0.9594 | ▲ +42.55% | ▲ +43.76% | $0.6400 (+61.68%) |
Sep 11, 2026 6w ago | 8-K | $0.1065 $2.11 | ▲ +1881.22% | ▲ +1881.56% | $0.6400 (+500.94%) |
Aug 24, 2026 9w ago | 8-K | $0.1815 $0.1732 | ▲ +4.57% | ▲ +5.04% | $0.6400 (−252.62%) |
Aug 21, 2026 9w ago | Press Release | $0.1815 $0.1732 | ▲ +4.57% | ▲ +5.04% | $0.6400 (−252.62%) |
US Market Status
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