ORMAT TECHNOLOGIES, INC. — Director's Dealing 2023

Sep 7, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ORMAT TECHNOLOGIES, INC. (ORA)
CIK: 0001296445
Period of Report: 2023-09-05

Reporting Person: Angel Isaac (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-09-05	Common Stock	M	96353	$55.16	Acquired	138286	Direct
2023-09-05	Common Stock	D	70209	$75.70	Disposed	68077	Direct
2023-09-06	Common Stock	M	103313	$55.16	Acquired	145246	Direct
2023-09-06	Common Stock	D	75500	$75.48	Disposed	69746	Direct
2023-09-06	Common Stock	S	22399	$74.42	Disposed	47347	Direct
2023-09-06	Common Stock	S	5414	$75.41	Disposed	41933	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-09-05	Stock Appreciation Rights (SARs)	$55.16	M	96353	Disposed	2023-11-07	Common Stock (96353)	Direct
2023-09-06	Stock Appreciation Rights (SARs)	$55.16	M	103313	Disposed	2023-11-07	Common Stock (103313)	Direct

Footnotes

F1: On September 5, 2023, the reporting person exercised 96,353 stock appreciation rights, and then immediately sold 26,144 shares received from such exercise. In a Form 4 filed on September 6, 2023 (the "Prior Form 4"), the reporting person previously reported such sale of 26,144 shares, but omitted the prior exercise of the stock appreciation rights. This Form 4 timely reports the exercise, and so column 5 of this row reflects the amount of shares beneficially owned prior to such sale of 26,144 shares.

F2: Due to the circumstances described in footnote 1, column 5 of this row is based on the amount of shares beneficially owned after the sale of 26,144 shares, which was reported in the Prior Form 4 and so is not repeated here. The amount of shares beneficially owned after the sale of 26,144 shares reported in the prior Form 4 should have been 41,933.

F3: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $74.10 to $75.06, inclusive. The reporting person undertakes to provide to Ormat Technologies, Inc. (the "Company"), any securityholder of the Company or the staff of the Securities and Exchange Commission ("SEC Staff"), upon request, full information regarding the number of shares sold at each price within the range specified herein.

F4: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.11 to $75.73, inclusive. The reporting person undertakes to provide to the Company, any securityholder of the Company or the SEC Staff, upon request, full information regarding the number of shares sold at each price within the range specified herein.

F5: These sales were made pursuant to a Rule 10b5-1 plan adopted by the reporting person on 04-02-2023.