Ocean Power Technologies Announces Appointment of Advisory Board Members to Support the Board of Directors

Core Insights - Ocean Power Technologies, Inc. has appointed three new Advisory Board Members with extensive experience in cybersecurity and government contracting, emphasizing the company's commitment to U.S. government projects [1][3][4] Group 1: Advisory Board Appointments - Natalie Lorenz-Anderson, Rear Admiral Joseph A. "Digger" DiGuardo, and Rear Admiral Victorino "Vic" Mercado have been appointed as Advisory Board Members to provide strategic advice to the OPT Board [1][3] - Lorenz-Anderson has over 40 years of experience in government contracting and technology fields, including cybersecurity and risk management, and has held significant roles in various organizations [4] - DiGuardo has a distinguished military career, including leadership of the Navy Expeditionary Combat Command with a budget of $2.1 billion, and currently advises on national security strategy [5][6][7] - Mercado served as U.S. Assistant Secretary of Defense for Strategy, Plans, and Capabilities, providing critical insights into national security and defense strategies [8][9] Group 2: Compensation and Structure - Advisory Board Members will be compensated with equity grants, with the amount and timing determined at the Board's discretion [2] - The company has also granted an inducement award of 75,000 restricted shares to Tracy Pagliara, the new Senior Vice President, General Counsel & Corporate Secretary, as part of its Employment Inducement Incentive Award Plan [12][13] Group 3: Company Overview - Ocean Power Technologies specializes in low-carbon marine power solutions and services, targeting markets such as defense, oil and gas, and offshore wind [15]