Shlomi Argas - Jun 15, 2023 Form 4 Insider Report for ORMAT TECHNOLOGIES, INC. (ORA)

Role
President
Signature
/s/ Ehud Ben Yemini, as attorney-in-fact
Stock symbol
ORA
Transactions as of
Jun 15, 2023
Transactions value $
$0
Form type
4
Date filed
6/15/2023, 05:00 PM
Previous filing
Mar 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ORA Common Stock, par value $0.001 per share Options Exercise $0 +1.19K +17.69% $0.00 7.92K Jun 15, 2023 Direct F1, F2
transaction ORA Common Stock, par value $0.001 per share Options Exercise $0 +690 +8.72% $0.00 8.61K Jun 15, 2023 Direct F3

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 Performance Stock Units Options Exercise $0 -2.89K -100% $0.00* 0 Jun 15, 2023 Common Stock, par value $0.001 per share 2.89K Direct F1, F2
transaction ORA Restricted Stock Units Options Exercise $0 +397 $0.00 397 Jun 15, 2023 Common Stock, par value $0.001 per share 397 Direct F1, F2
transaction ORA Restricted Stock Units Options Exercise $0 -690 -50% $0.00 690 Jun 15, 2023 Common Stock, par value $0.001 per share 690 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 15, 2020, the reporting person was granted performance stock units (with a target amount of 2,885), each of which represents the right to receive one share of ORA common stock upon vesting (the "PSUs"). Pursuant to their terms, the PSUs are not deemed vested until they are both performance-vested and time-vested. The PSUs performance vest on the third anniversary of the grant date, in an amount (between 0% and 150% of target) based on the issuer's achievement of relative total stockholder return from the grant date until such third anniversary, and time vest 50% on the second anniversary of the grant date and 25% on each of the third and fourth anniversaries of the grant date, based on the reporting person's continued service.
F2 On June 15, 2023, the third anniversary of the grant date of the PSUs, 100% of the PSUs performance vested in the following amount based on the issuer's achievement of relative total stockholder return during the three-year performance period: 1,587. 75% of such PSUs were immediately paid out, as they were time-vested based on the reporting person's continued service since the grant date. The remaining 25% of such PSUs remain subject to time-vesting until the fourth anniversary of the grant date, based on the reporting person's continued service, and are thus represented as restricted stock units ("RSUs"). Each RSU represents the right to receive one share of ORA common stock upon vesting.
F3 In addition to the PSUs, the reporting person was granted 2,760 time-vesting RSUs on June 15, 2020. Each RSU represents the right to receive one share of ORA common stock upon vesting. 25% of these time-vesting RSUs vested on June 15, 2023, the third-year anniversary of the date of grant. The remaining 25% of which will vest on the fourth anniversary of the grant date, based on the reporting person's continued service.