ORMAT TECHNOLOGIES, INC. — Director's Dealing 2016

Dec 28, 2016

SEC Form 4

FORM	4
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FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

OMB APPROVAL OMB Number: 3235-0287 Estimated average burden

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Check this box if no longer subject to hours per response: 0.5

Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person*			2. Issuer Name and Ticker or Trading Symbol ORMAT TECHNOLOGIES, INC. [ ORA ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
Klein Erez					Director	10% Owner
					Officer (give title	Other (specify
(Last)	(First)	(Middle)	3. Date of Earliest Transaction (Month/Day/Year)	X	below)	below)
C/O ORMAT TECHNOLOGIES, INC.			12/23/2016	V.P., Operations
6225 NEIL ROAD
			4. If Amendment, Date of Original Filed (Month/Day/Year)		6. Individual or Joint/Group Filing (Check Applicable
(Street)				Line)
RENO	NV	89511		X	Form filed by One Reporting Person
					Form filed by More than One Reporting Person
(City)	(State)	(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned	6. Ownership Form: Direct (D) or	7. Nature of Indirect Beneficial Ownership
			Code	V	Amount	(A) or (D)	Price	Following Reported Transaction(s) (Instr. 3 and 4)	Indirect (I) (Instr. 4)	(Instr. 4)
Common Stock	12/23/2016		M		5,150	A	\$29.95	5,150	D
Common Stock	12/23/2016		S		5,150	D	\$52.95	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)				6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction (s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V		(A) (D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Appreciation Right	\$29.95	12/23/2016		M			12,000	04/16/2012	04/16/2017 Common	Stock	5,150	\$0	112,500(1)	D

Explanation of Responses:

1. This includes the following grants: (i) 15,000 Stock Appreciation Rights granted on March 31, 2011 at exercise price of \$25.65 ea that are fully vested (ii) 15,000 Stock Appreciation Rights granted on April 2, 2012 at exercise price of \$20.13 ea that are fully vested (iii) 40,000 Stock Appreciation Rights granted on June 4, 2013 at exercise price of \$23.34 ea out of which 20,000 has vest and the balance 20,000 will vest on June 4, 2017 and (iv) 42,500 Stock Appreciation Rights granted on June 2016 out of which 50% will be vested on June 14, 2018, 25% on June 14, 2019 and 25% on June 14, 2020.

Remarks:

Etty Rosner is signing on behalf of Mr. Klein pursuant to a power of attorney dated July 15, 2014.

/s/ Etty Rosner			12/27/2016

** Signature of Reporting Person Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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