Doron Blachar - Jun 1, 2022 Form 4 Insider Report for ORMAT TECHNOLOGIES, INC. (ORA)

Role
Chief Executive Officer
Signature
/s/ Ehud Ben Yemini as Attorney -in-Fact
Stock symbol
ORA
Transactions as of
Jun 1, 2022
Transactions value $
-$1,743,270
Form type
4
Date filed
6/3/2022, 06:25 PM
Previous filing
Mar 3, 2022
Next filing
Jul 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ORA Common Stock Options Exercise $1.66M +38.8K +401.44% $42.87 48.5K Jun 1, 2022 Direct
transaction ORA Common Stock Disposed to Issuer -$1.66M -19.8K -40.88% $83.96 28.7K Jun 1, 2022 Direct
transaction ORA Common Stock Sale -$620K -7.43K -25.93% $83.43 21.2K Jun 1, 2022 Direct F1, F2
transaction ORA Common Stock Sale -$703K -8.37K -39.39% $83.98 12.9K Jun 1, 2022 Direct F2, F3
transaction ORA Common Stock Sale -$271K -3.2K -24.86% $84.81 9.67K Jun 1, 2022 Direct F2, F4
transaction ORA Common Stock Options Exercise $158K +3.68K +38.02% $42.87 13.3K Jun 2, 2022 Direct
transaction ORA Common Stock Disposed to Issuer -$158K -1.89K -14.12% $83.62 11.5K Jun 1, 2022 Direct
transaction ORA Common Stock Sale -$110K -1.33K -11.61% $83.02 10.1K Jun 2, 2022 Direct F2, F5
transaction ORA Common Stock Sale -$38.6K -461 -4.55% $83.72 9.67K Jun 2, 2022 Direct F2, F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ORA Stock Appreciation Rights (SARs) Options Exercise $0 -38.8K -91.35% $0.00 3.68K Jun 1, 2022 Common Stock 38.8K $42.87 Direct F7
transaction ORA Stock Appreciation Rights (SARs) Options Exercise $0 -3.68K -100% $0.00* 0 Jun 2, 2022 Common Stock 3.68K $42.87 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $83.00 to $83.69, inclusive. The reporting person undertakes to provide to Ormat Technologies, Inc. (the "Company"), any securityholder of the Company or the staff of the Securities and Exchange Commission ("SEC Staff"), upon request, full information regarding the number of shares sold at each price within the range specified herein.
F2 These sales were made pursuant to a Rule 10b5-1 plan.
F3 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $83.70 to $84.19, inclusive. The reporting person undertakes to provide to the Company, any securityholder of the Company or SEC Staff, upon request, full information regarding the number of shares sold at each price within the range specified herein.
F4 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $84.20 to $85.19, inclusive. The reporting person undertakes to provide to the Company, any securityholder of the Company or SEC Staff, upon request, full information regarding the number of shares sold at each price within the range specified herein.
F5 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $82.545 to $83.54, inclusive. The reporting person undertakes to provide to the Company, any securityholder of the Company or SEC Staff, upon request, full information regarding the number of shares sold at each price within the range specified herein.
F6 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $83.55 to $84.22, inclusive. The reporting person undertakes to provide to the Company, any securityholder of the Company or SEC Staff, upon request, full information regarding the number of shares sold at each price within the range specified herein.
F7 The Stock Appreciation Rights ("SARs") vested and became exercisable according to the following schedule: 50% on June 14, 2018, 25% on June 14, 2019 and 25% on June 14, 2020.

Remarks:

The reporting person exercised the SARs and sold the underlying shares of common stock into the open market in light of the impending expiration of the SARs on June 14, 2022.