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

Reporting relationship: President
Issuer ticker: ORA
Reported as of: 15 Jun 2023
Net transaction value: $0
SEC form: 4
Accepted by SEC: 15 Jun 2023, 17:00:23 UTC
Prior SEC filing: 01 Mar 2023
Source filing: View source filing
Reporting owner signature: /s/ Ehud Ben Yemini, as attorney-in-fact

Key filing fact

Shlomi Argas filed Form 4 for ORMAT TECHNOLOGIES, INC. (ORA) on 15 Jun 2023.

Key facts

This page summarizes Shlomi Argas's Form 4 filing for ORMAT TECHNOLOGIES, INC. (ORA).
5 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 15 Jun 2023, 17:00.

Change

Previous filing in this sequence was filed on 01 Mar 2023.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

ORA transaction

Common Stock, par value $0.001 per share

Options Exercise

Transaction value: $0
Shares: +1,190
Change %: +18%
Price: $0.000000
Shares after: 7,917
Date: 15 Jun 2023
Ownership: Direct
Footnotes: F1, F2

ORA transaction

Common Stock, par value $0.001 per share

Options Exercise

Transaction value: $0
Shares: +690
Change %: +8.7%
Price: $0.000000
Shares after: 8,607
Date: 15 Jun 2023
Ownership: Direct
Footnotes: F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

ORA transaction Derivative

Performance Stock Units

Options Exercise

Transaction value: $0
Shares: -2,885
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 15 Jun 2023
Ownership: Direct
Underlying class: Common Stock, par value $0.001 per share
Underlying amount: 2,885
Exercise price
Footnotes: F1, F2

ORA transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: +397
Change %
Price: $0.000000
Shares after: 397
Date: 15 Jun 2023
Ownership: Direct
Underlying class: Common Stock, par value $0.001 per share
Underlying amount: 397
Exercise price
Footnotes: F1, F2

ORA transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -690
Change %: -50%
Price: $0.000000
Shares after: 690
Date: 15 Jun 2023
Ownership: Direct
Underlying class: Common Stock, par value $0.001 per share
Underlying amount: 690
Exercise price
Footnotes: F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote 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.

Footnote 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.

Footnote 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.