Ocean Power Technologies reports 2018 executive compensation

CEO George H. Kirby III receives $779.9K

Ocean Power Technologies reported fiscal year 2018 executive compensation information on October 12, 2018.

In 2018, four executives at Ocean Power Technologies received on average a compensation package of $380,904, a 19% decrease compared to previous year.

George H. Kirby III, Chief Executive Officer, received $779,875 in total, which increased by 5% compared to 2017. 48.93% of Kirby's compensation, or $381,600, was in salary. Kirby also received $276,565 in bonus, $70,000 in stock awards, as well as $51,710 in other compensation.

Matthew T. Shafer, Chief Financial Officer, received a compensation package of $375,210, which increased by 52% compared to previous year. 62.91% of the compensation package, or $236,042, was in salary.

Christopher A. Phebus, Vice President, earned $243,005 in 2018.

Mike M. Mekhiche, Former Executive, received $125,526 in 2018, which decreases by 76% compared to 2017.

Ocean Power Technologies' fiscal year ends on April 30.