ORMAT TECHNOLOGIES, INC. — Director's Dealing 2023

Sep 8, 2023

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

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STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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* Angel, Isaac			2. Issuer Name and Ticker or Trading Symbol Ormat Technologies, Inc. [ORA]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(Last) (First) (Middle) c/o Ormat Technologies, Inc. 6140 Plums St.			3. Date of Earliest Transaction (Month/Day/Year) 09/05/2023	X Director 10% Owner Officer (give title below) ___ Other (specify below)
Reno NV 89519-6075 (City)	(Street) (State)	(Zip)	4. If Amendment, Date Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form Filed by One Reporting Person ___ Form Filed by More than One Reporting Person

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 Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D)	7. Nature of Indirect Beneficial Ownership
			Code	V	Amount	(A) or (D)	Price		or Indirect (I) (Instr. 4)	(Instr. 4)
Common Stock	09/05/2023		M		96,353 (1)	A	\$55.16	138,286 (1)	D
Common Stock	09/05/2023		D		70,209 (1)	D	\$75.70	68,077 (1)	D
Common Stock	09/06/2023		M		103,313	A	\$55.16	145,246 (2)	D
Common Stock	09/06/2023		D		75,500	D	\$75.48	69,746	D
Common Stock	09/06/2023		S		22,399	D	\$74.42 (3) (5)	47,347	D
Common Stock	09/06/2023		S		5,414	D	\$75.41 (4) (5)	41,933	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	10. Ownership Form of Derivative Security: Direct (D)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares		Reported Transaction(s) (Instr. 4)	or Indirect (I) (Instr. 4)
Stock Appreciation Rights (SARs)	\$55.16	09/05/2023		M			96,353		11/07/2018 11/07/2023 Common	Stock	96,353	\$0.00	106,658	D
Stock Appreciation Rights (SARs)	\$55.16	09/06/2023		M			103,313		11/07/2018 11/07/2023 Common	Stock	103,313	\$0.00	3,345	D

Explanation of Responses:

• (1) 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.
• (2) 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.
• (3) 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.
• (4) 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.
• (5) These sales were made pursuant to a Rule 10b5-1 plan adopted by the reporting person on 04-02-2023.

Signatures

/s/ Ehud Ben Yemini as Attorney -in-Fact	09/07/2023
**Signature of Reporting Person	Date

Reporting Owners

	Relationships
Reporting Owner Name / Address		Director 10% Owner Officer Other
Angel, Isaac c/o Ormat Technologies, Inc. 6140 Plums St. Reno NV 89519-6075	X

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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