Ocean Power Technologies, Inc. announced that, effective September 23, 2021, Matthew T. Shafer, Senior Vice President and Treasurer, as well as principal financial officer and principal accounting officer, of the Company, resigned from the Company. In connection with this departure, effective September 23, 2021, Joseph DiPietro, the Company’s Controller, was appointed to the additional positions of the Company’s Treasurer, principal accounting officer and acting principal financial officer. He has been with the Company since August 2021.