Assi Ginzburg - May 12, 2024 Form 4 Insider Report for ORMAT TECHNOLOGIES, INC. (ORA)

Role: Chief Financial Officer
Signature: /s/ Jessica Woelfel, as attorney-in-fact
Stock symbol: ORA
Transactions as of: May 12, 2024
Transactions value $: $0
Form type: 4
Date filed: 5/14/2024, 04:42 PM
Previous filing: Mar 21, 2024

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	+492	+1.9%	$0.00	26.4K	May 12, 2024	Direct	F1, F2
transaction	ORA	Common Stock, par value $0.001 per share	Options Exercise	$0	+837	+3.17%	$0.00	27.3K	May 12, 2024	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	Restricted Stock Units	Options Exercise	$0	-492	-100%	$0.00^*	0	May 12, 2024	Common Stock	492		Direct	F1, F2
transaction	ORA	Restricted Stock Units	Options Exercise	$0	-837	-100%	$0.00^*	0	May 12, 2024	Common Stock	837		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On May 12, 2020, the reporting person was granted performance stock units (with a target amount of 3,075), 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. On May 12, 2023, the third anniversary of the grant date of the PSUs, the PSUs performance vested in an amount equal to 1,968 shares, based on the issuer's achievement of relative total stockholder return during such performance period. 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 and the remaining 25% of such PSUs were subject to time-vesting through the fourth anniversary of the grant date, and were thus represented as restricted stock units ("RSUs").
F2	On May 12, 2024, the fourth anniversary of the grant date of the PSUs, the remaining 25% of such PSUs that converted into RSUs time vested, based on the reporting person's continued service through such date.
F3	In addition to the PSUs, the reporting person was granted 3,350 time-vesting RSUs on May 12, 2020. Each RSU represents the right to receive one share of ORA common stock upon vesting. The final 25% of these time-vesting RSUs vested on May 12, 2024, the fourth-year anniversary of the date of grant.