ORMAT TECHNOLOGIES, INC. — Director's Dealing 2025

Oct 3, 2025

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

OMB APPROVAL

Washington, D.C. 20549

OMB Number: 3235-0287 Estimated average burden hours per response: 0.5

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

	transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person* STERN STANLEY				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) C/O ORMAT TECHNOLOGIES, INC.	(Middle)		3. Date of Earliest Transaction (Month/Day/Year) 09/26/2025						X	Director Officer (give title below)	10% Owner Other (specify below)
6884 SIERRA CENTER PARKWAY				4. If Amendment, Date of Original Filed (Month/Day/Year)						6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person
(Street) RENO	NV	89511									Form filed by More than One Reporting Person
(City)	(State)	(Zip)
					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	6. Ownership Form: Direct (D) or	7. Nature of Indirect Beneficial Ownership
				Code	V	Amount	(A) or (D)	Price	Reported Transaction(s) (Instr. 3 and 4)	Indirect (I) (Instr. 4)	(Instr. 4)
Common Stock			09/26/2025			M(1)		1,210	A	\$76.87	6,471	D
Common Stock			09/26/2025			D		981(2)	D	\$94.83	5,490	D
Common Stock			09/26/2025			S		229	D	\$94.83	5,261	D

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

Common Stock			09/30/2025				S		400		\$95.98	4,861			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. Conversio n or Exercise Price of Derivative	3. Transaction Date (Month/Day/Yea r)	3A. Deemed Execution Date, if any (Month/Day/Yea r)	4. Transacti on 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. of	Price Derivat ive Securit	9. Number of derivative Securities Beneficial	10. Ownershi p Form: Direct (D) or Indirect (I) (Instr.	11. Nature of Indirect Beneficial Ownershi p (Instr. 4)
	Security			Code	V	(A)	(D)	Date Exercis able	Expiratio n Date	Title	Amount or Number of Shares	y 5)	(Instr.	ly Owned Following Reported Transacti on(s) (Instr. 4)	4)
Stock Appreciation Rights (SARs)	\$76.87	09/26/2025		M			1,210	11/07/2 020	11/06/20 25	Common Stock	1,210		\$0	0	D

Explanation of Responses:

• 1. Represents the exercise of Stock Appreciation Rights ("SARs") expiring on November 6, 2025, for which the reporting person exercised all 1,210 shares.
• 1. This represents the difference between the number of SARs exercised (1,210) and the number of shares issued as a result of the exercise (229). The number of shares to be issued under a SAR exercise is determined by multiplying the number of SARs being exercised by the difference between the market value on the date of exercise (\$94.83) and the exercise price (\$76.87).

Remarks:

/s/ Jessica Woelfel – as attorney-in-fact 9/30/2025

** Signature of Reporting Person Date