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ORMAT TECHNOLOGIES, INC. — Director's Dealing 2024
May 14, 2024
6968_rns_2024-05-15_703e2eee-f957-401d-bf9b-5f7de10e029c.pdf
Director's Dealing
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FORM 4
Checkthisbox if no longer subject to Section 16. Form 4 or Form 5 obligationsmay continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hoursper response: 0.5
Checkthisbox to indicate that a transaction wasmade pursuant to a contract, instruction or written plan that isintended to satisfy the affirmative defense conditionsof Rule 10b5-1(c). See Instruction 10.
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the SecuritiesExchange Act of 1934, or Section 30(h) of the Investment Company Act of 1940
| 1. Name and Addressof Reporting Person Ben Yosef, Ofer |
* | 2. Issuer Name and Ticker or Trading Symbol Ormat Technologies, Inc. [ORA] |
5. Relationship of Reporting Person(s) to Issuer (Checkall applicable) |
|||||
|---|---|---|---|---|---|---|---|---|
| (Last) c/o Ormat Technologies, Inc. 6140 PlumasSt |
(First) | (Middle) | 3. Date of Earliest Transaction (Month/Day/Year) 05/12/2024 |
___ Director 10%Owner X_ Officer (give title below) _ Other (specify below) EVP - Energy Storage & BD |
||||
| Reno NV 89519-6075 (City) |
(Street) (State) |
(Zip) | 4. If Amendment, Date Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (CheckApplicable Line) X Form Filed byOne Reporting Person ___ Form Filed by More than One Reporting Person |
Table I - Non-Derivative SecuritiesAcquired, 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 / |
3. Transaction Code (Instr. 8) |
4. SecuritiesAcquired (A) or Disposed of (D) (Instr. 3, 4 and 5) |
5. Amount of Securities BeneficiallyOwned Following Reported Transaction(s) |
6. Ownership Form: |
7. Nature of Indirect Beneficial |
|||
|---|---|---|---|---|---|---|---|---|---|---|
| Year) | Code | V Amount | (A) or (D) |
Price | (Instr. 3 and 4) | Direct (D) or Indirect (I) (Instr. 4) |
Ownership (Instr. 4) |
|||
| Common Stock, par value \$0.001 per share | 05/12/2024 | M (1) (2) | 410 | A | \$0.00 | 5,587 | D | |||
| Common Stock, par value \$0.001 per share | 05/12/2024 | M (3) | 698 | A | \$0.00 | 6,285 | D |
Table II - Derivative SecuritiesAcquired, 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 SecuritiesUnderlying Derivative Security (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported |
10. Ownership Form of Derivative Security: Direct (D) or Indirect |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Code | V | (A) | (D) | Date Exercisable |
Expiration Date |
Title | Amount or Number of Shares |
Transaction(s) (Instr. 4) |
(I) (Instr. 4) |
||||||
| Restricted Stock Units |
(1) (2) | 05/12/2024 | M | 410 | (2) | (2) | Common Stock |
410 | \$0.00 | 0 | D | ||||
| Restricted Stock Units |
(3) | 05/12/2024 | M | 698 | (3) | (3) | Common Stock |
698 | \$0.00 | 0 | D |
Explanation of Responses:
(1) On May 12, 2020, the reporting person wasgranted performance stockunits(with a target amount of 2,562), each of which representsthe right to receive one share of ORA common stockupon vesting (the "PSUs"). Pursuant to their terms, the PSUsare 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 PSUsperformance vested in an amount equal to 2,562 shares, based on the issuer'sachievement of relative total stockholder return during such performance period. 75%of such PSUswere immediately paid out, asthey were time-vested based on the reporting person'scontinued service since the grant date and the remaining 25%of such PSUswere subject to time-vesting through the fourth anniversary of the grant date, and were thusrepresented asrestricted stockunits("RSUs").
(2) On May 12, 2024, the fourth anniversary of the grant date of the PSUs, the remaining 25%of such PSUsthat converted into RSUstime vested, based on the reporting person'scontinued service through such date.
(3) In addition to the PSUs, the reporting person wasgranted 2,792 time-vesting RSUson May 12, 2020. Each RSUrepresentsthe right to receive one share of ORA common stockupon vesting. The final 25%of these time-vesting RSUsvested on May 12, 2024, the fourth-year anniversary of the date of grant.
Signatures
/s/ Jessica Woelfel, asattorney-in-fact 05/14/2024
**Signature of Reporting Person Date

Reporting Owners
| Relationships | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Reporting Owner Name / Address | Director 10%Owner Officer | Other | |||||||
| Ben Yosef, Ofer c/o Ormat Technologies, Inc. 6140 PlumasSt Reno NV 89519-6075 |
EVP - Energy Storage & BD |
Reminder: Report on a separate line for each classof securitiesbeneficially owned directly or indirectly.
* If the form isfiled by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatementsor omissionsof factsconstitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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