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

Footnote F1

Each Restricted Stock Unit ("RSU") represents the right to receive one share of ORA common stock upon vesting.

Footnote 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 495 shares.

Footnote 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.

Footnote F4

This portion of Restricted Stock Units vested on March 1, 2025, being the third anniversary of the date of grant. These Restricted Stock Units were granted on March 1, 2022 and vest 25% on each of the first, second, third and fourth anniversaries of the grant date.

Footnote F5

This portion of Restricted Stock Units vested on March 1, 2025, being the first anniversary of the date of grant. These Restricted Stock Units were granted on March 1, 2024 and vest 25% on each of the first, second, third and fourth anniversaries of the grant date.

Footnote F6

On March 1, 2022, the reporting person was granted performance stock units (with a target amount of 2,655), 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.

Footnote 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: 2,222. 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.