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ORMAT TECHNOLOGIES, INC. — Director's Dealing 2024
May 14, 2024
6968_dirs_2024-05-14_becb5836-424b-44f2-a323-07cc0f0aad64.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: ORMAT TECHNOLOGIES, INC. (ORA)
CIK: 0001296445
Period of Report: 2024-05-12
Reporting Person: Benyosef Ofer (EVP - Energy Storage & BD)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-05-12 | Common Stock, par value $0.001 per share | M | 410 | — | Acquired | 5587 | Direct |
| 2024-05-12 | Common Stock, par value $0.001 per share | M | 698 | — | Acquired | 6285 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-05-12 | Restricted Stock Units | $ | M | 410 | Disposed | Common Stock (410) | Direct | |
| 2024-05-12 | Restricted Stock Units | $ | M | 698 | Disposed | Common Stock (698) | Direct |
Footnotes
F1: On May 12, 2020, the reporting person was granted performance stock units (with a target amount of 2,562), 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. On May 12, 2023, the third anniversary of the grant date of the PSUs, the PSUs performance vested in an amount equal to 2,562 shares, based on the issuer's achievement of relative total stockholder return during such performance period. 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 and the remaining 25% of such PSUs were subject to time-vesting through the fourth anniversary of the grant date, and were thus represented as restricted stock units ("RSUs").
F2: On May 12, 2024, the fourth anniversary of the grant date of the PSUs, the remaining 25% of such PSUs that converted into RSUs time vested, based on the reporting person's continued service through such date.
F3: In addition to the PSUs, the reporting person was granted 2,792 time-vesting RSUs on May 12, 2020. Each RSU represents the right to receive one share of ORA common stock upon vesting. The final 25% of these time-vesting RSUs vested on May 12, 2024, the fourth-year anniversary of the date of grant.