Assi Ginzburg - 01 Mar 2024 Form 4 Insider Report for ORMAT TECHNOLOGIES, INC. (ORA)

Role
Chief Financial Officer
Signature
/s/ Jessica Woelfel, as attorney-in-fact
Issuer symbol
ORA
Transactions as of
01 Mar 2024
Net transactions value
$0
Form type
4
Filing time
04 Mar 2025, 20:37:11 UTC
Previous filing
16 May 2023
Next filing
21 Mar 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ORA Common Stock Options Exercise $0 +330 +1.2% $0.000000 27,607 01 Mar 2024 Direct F1, F2
transaction ORA Common Stock Options Exercise $0 +670 +2.4% $0.000000 28,277 01 Mar 2025 Direct F1, F3
transaction ORA Common Stock Options Exercise $0 +447 +1.6% $0.000000 28,724 01 Mar 2025 Direct F1, F4
transaction ORA Common Stock Options Exercise $0 +1,953 +6.8% $0.000000 30,677 01 Mar 2025 Direct F1, F5
transaction ORA Common Stock Options Exercise $0 +2,084 +6.8% $0.000000 32,761 01 Mar 2025 Direct F1, 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 Restricted Stock Units Options Exercise $0 -330 -33% $0.000000 670 01 Mar 2024 Common Stock 330 Direct F1, F2, F3
transaction ORA Restricted Stock Units Options Exercise $0 -670 -100% $0.000000 0 01 Mar 2025 Common Stock 670 Direct F1, F3
transaction ORA Restricted Stock Units Options Exercise $0 -447 -50% $0.000000 447 01 Mar 2025 Common Stock 447 Direct F1, F4
transaction ORA Restricted Stock Units Options Exercise $0 -1,953 -33% $0.000000 3,906 01 Mar 2025 Common Stock 1,953 Direct F1, F5
transaction ORA Performance Based Units Options Exercise $0 -3,319 -100% $0.000000 0 01 Mar 2025 Common Stock 3,319 Direct F6, F7
transaction ORA Restricted Stock Units Options Exercise $0 +694 $0.000000 694 01 Mar 2025 Common Stock 694 Direct F1, F6, F7
transaction ORA Restricted Stock Units Award $0 +5,807 $0.000000 5,807 01 Mar 2025 Common Stock 5,807 Direct F1, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU") represents the right to receive one share of ORA common stock upon vesting.
F2 This portion of Restricted Stock Units ("RSUs") vested on March 1, 2024, being the second anniversary of the grant date. These RSUs were granted on March 1, 2022 and vest 33% on the second anniversary of the grant date and 67% on the third anniversary of the grant date. This transaction is being reported late due to an inadvertent administrative oversight. Due to this administrative error, subsequent Form 4s filed on and after March 1, 2024 underreported the number of shares beneficially owned by the reporting person by 330 shares.
F3 This portion of Restricted Stock Units vested on March 1, 2025, being the third anniversary of the grant date. These RSUs were granted on March 1, 2022 and vest 33% on the second anniversary of the grant date and 67% on the third anniversary of the grant date.
F4 This portion of RSUs vested on March 1, 2025, being the third anniversary of the date of grant. These RSUs were granted on March 1, 2022 and vest 25% on each of the first, second, third and fourth anniversaries of the grant date.
F5 This portion of RSUs vested on March 1, 2025, being the first anniversary of the date of grant. These RSUs were granted on March 1, 2024 and vest 33.33% on each of the first and second anniversaries of the grant date and 33.34% on the third anniversary of the grant date.
F6 On March 1, 2022, the reporting person was granted performance stock units (with a target amount of 3,319), 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 25% on each of the first, second, third and fourth anniversaries of the grant date, based on the reporting person's continued service.
F7 On March 1, 2025, 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: 2,778. 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 through the fourth anniversary of the grant date, and were thus represented as RSUs.
F8 In addition, the reporting person was granted 5,807 time-vesting RSUs on March 1, 2025. 33.3% of these time-vesting RSUs vest on the first and second anniversary of the grant date and 33.34% on the third anniversary of the grant date.