ORMAT TECHNOLOGIES, INC. — Director's Dealing 2025

Aug 20, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ORMAT TECHNOLOGIES, INC. (ORA)
CIK: 0001296445
Period of Report: 2025-08-18

Reporting Person: Wong Byron G. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-08-18	Common Stock	M	1210	$76.87	Acquired	9869	Direct
2025-08-18	Common Stock	D	1018	$91.3950	Disposed	8851	Direct
2025-08-18	Common Stock	S	192	$91.3950	Disposed	8659	Direct
2025-08-18	Common Stock	M	1315	$67.54	Acquired	9974	Direct
2025-08-18	Common Stock	D	972	$91.3950	Disposed	9002	Direct
2025-08-18	Common Stock	S	343	$91.3950	Disposed	8659	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-08-18	Stock Appreciation Rights (SARs)	$76.87	M	1210	Disposed	2025-11-06	Common Stock (1210)	Direct
2025-08-18	Stock Appreciation Rights (SARs)	$67.54	M	1315	Disposed	2026-11-04	Common Stock (1315)	Direct

Footnotes

F1: Represents the exercise of Stock Appreciation Rights ("SARs") expiring on November 6, 2025, for which the reporting person exercised all 1,210 shares, disposed of 1,018 shares to the issuer to cover the exercise price of the SARs, and sold the remaining 192 shares acquired upon exercise in the open market on August 18, 2025.

F2: Represents the exercise of SARs expiring on November 4, 2026, for which the reporting person exercised all 1,315 shares, disposed of 972 shares to the issuer to cover the exercise price of the SARs, and sold the remaining 343 shares in the open market on August 18, 2025.

F3: Each SAR represents the right to receive shares of ORA common stock with a value equal to the amount by which the market value of the shares in respect of which the SAR is exercised exceeds the grant price set forth in the SAR, multiplied by the number of shares in respect of which the SAR is exercised.