Isaac Angel - Sep 5, 2023 Form 4 Insider Report for ORMAT TECHNOLOGIES, INC. (ORA)

Role
Director
Signature
/s/ Ehud Ben Yemini as Attorney -in-Fact
Stock symbol
ORA
Transactions as of
Sep 5, 2023
Transactions value $
-$2,075,188
Form type
4
Date filed
9/7/2023, 06:40 PM
Previous filing
Sep 6, 2023
Next filing
Sep 11, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ORA Common Stock Options Exercise $5.31M +96.4K +229.78% $55.16 138K Sep 5, 2023 Direct F1
transaction ORA Common Stock Disposed to Issuer -$5.31M -70.2K -50.77% $75.70 68.1K Sep 5, 2023 Direct F1
transaction ORA Common Stock Options Exercise $5.7M +103K +246.38% $55.16 145K Sep 6, 2023 Direct F2
transaction ORA Common Stock Disposed to Issuer -$5.7M -75.5K -51.98% $75.48 69.7K Sep 6, 2023 Direct
transaction ORA Common Stock Sale -$1.67M -22.4K -32.12% $74.42 47.3K Sep 6, 2023 Direct F3, F5
transaction ORA Common Stock Sale -$408K -5.41K -11.43% $75.41 41.9K Sep 6, 2023 Direct F4, F5

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 -96.4K -47.46% $0.00 107K Sep 5, 2023 Common Stock 96.4K $55.16 Direct
transaction ORA Stock Appreciation Rights (SARs) Options Exercise $0 -103K -96.86% $0.00 3.35K Sep 6, 2023 Common Stock 103K $55.16 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 On September 5, 2023, the reporting person exercised 96,353 stock appreciation rights, and then immediately sold 26,144 shares received from such exercise. In a Form 4 filed on September 6, 2023 (the "Prior Form 4"), the reporting person previously reported such sale of 26,144 shares, but omitted the prior exercise of the stock appreciation rights. This Form 4 timely reports the exercise, and so column 5 of this row reflects the amount of shares beneficially owned prior to such sale of 26,144 shares.
F2 Due to the circumstances described in footnote 1, column 5 of this row is based on the amount of shares beneficially owned after the sale of 26,144 shares, which was reported in the Prior Form 4 and so is not repeated here. The amount of shares beneficially owned after the sale of 26,144 shares reported in the prior Form 4 should have been 41,933.
F3 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $74.10 to $75.06, 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.
F4 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.11 to $75.73, inclusive. The reporting person undertakes to provide to the Company, any securityholder of the Company or the SEC Staff, upon request, full information regarding the number of shares sold at each price within the range specified herein.
F5 These sales were made pursuant to a Rule 10b5-1 plan adopted by the reporting person on 04-02-2023.